Zimbabwe applies to join AIIB as Ncube seeks new infrastructure funding
Zimbabwe applies to join AIIB as Ncube seeks new infrastructure funding
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Zimbabwe has formally applied to join the Beijing-based Asian Infrastructure Investment Bank (AIIB), in a move the Ministry of Finance said signals Harare’s continued push to diversify development financing for major projects.
The Ministry said a Zimbabwean delegation led by Finance Minister Mthuli Ncube met senior AIIB officials in Beijing on Friday to discuss the country’s infrastructure priorities and possible areas of cooperation.
According to the Ministry, the meeting comes about a month after Zimbabwe submitted its application to join the multilateral lender, which focuses on financing infrastructure and other productive sectors.
The AIIB outlined areas it prioritises for potential cooperation, including sustainable infrastructure, climate-resilient projects, improving regional connectivity and mobilising private-sector capital.
If Zimbabwe’s application is approved, membership could open access to AIIB funding for large-scale infrastructure development, as the country seeks alternatives to traditional Western lenders.
The government has previously said it is pursuing a mix of financing options to support roads, energy, water and other public infrastructure viewed as key to economic growth.
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