HARARE, Sept. 22 (Xinhua) -- The African Development Bank (AfDB) approved Wednesday a strategy to fund Zimbabwe's private sector to reinforce the country's efforts for industrialization.
The Zimbabwe Country Strategy 2021-2023, which outlines private sector support and institutional reforms, was launched virtually by the AfDB board, Zimbabwe's state broadcaster ZBC reported.
AfDB Country Manager for Zimbabwe Moono Mupotola stressed the regional bank's commitment to supporting Zimbabwe's private sector.
"The focus of our strategy is to strengthen resilience and build competitiveness by improving the private sector's productive capacity through an improved business climate, ecosystem and infrastructure and also to leverage the opportunities the AfCFTA (African Continental Free Trade Area) offers," Mupotola said.
Mupotola said the AfDB will also work closely with international financial institutions, development partners and government to find resolutions to Zimbabwe's huge external debt as well as providing technical assistance.
The AfDB is one of the key development partners in Zimbabwe in sectors such as infrastructure, finance, agriculture, industry and governance. Enditem