The African Development Bank (AfDB) has launched a significant US$4 million programme aimed at accelerating Zimbabwe’s arrears clearance and debt resolution process. This crucial initiative, announced today in Harare, is expected to unlock much-needed international development financing, boost investor confidence, and support the country’s ambitious drive towards achieving an upper-middle-income society by 2030.
The three-year programme, officially named the Zimbabwe Arrears Clearance Dialogue Enhancement Project (ZACDEP), is set to run until June 2029. Its primary objective is to strengthen the Zimbabwean Government’s engagement with international creditors while simultaneously supporting key economic, governance, and land reforms that are fundamental to the nation’s debt resolution roadmap.
This development comes as Zimbabwe intensifies its efforts to normalise relations with international financial institutions, following the recent successful conclusion of the first review of the International Monetary Fund’s Staff Monitored Programme. Officials at the launch underscored that resolving the country’s arrears remains critical for attracting new investment and securing affordable development financing.
Key Players Involved
- African Development Bank (AfDB): Initiator and funder of the US$4 million Zimbabwe Arrears Clearance Dialogue Enhancement Project (ZACDEP).
- Zimbabwean Government: Beneficiary and key implementer, aiming to strengthen engagement with creditors and drive economic reforms.
- International Monetary Fund (IMF): Recently concluded the first review of its Staff Monitored Programme with Zimbabwe, signalling progress in financial relations.
Event Timeline
- July 27, 2026: AfDB officially launches the US$4 million ZACDEP programme in Harare.
- Until June 2029: The three-year ZACDEP programme is set to be implemented.
- Recent Past: Zimbabwe successfully concluded the first review of the IMF’s Staff Monitored Programme.
