Participation in the investing Multi-Donor Trust Fund (ZimFund)

Description

The programme made a financial contribution in the amount of EUR 20.00 million to the first phase of the multilateral Zimbabwe Multi-Donor Trust Fund (ZimFund), which was established in 2010. The ZimFund was set up when a government of national unity was established after the severe conflicts in 2008 and 2009 and there was hope for political detente and the restoration of bilateral relations. The ZimFund was and still is managed by the African Development Bank (AfDB). The funds were used in two major projects – the Urgent Water Supply and Sanitation Rehabilitation Project (UWSSRP) and the Emergency Power Infrastructure Rehabilitation Project (EPIRP) – to rehabilitate infrastructure in the water and energy sectors. In addition to Germany, financing was also provided by Denmark, Norway, Sweden, the United Kingdom, Switzerland and Australia, amounting to almost EUR 106 million in total by the end of 2015. Of this total, EUR 59.27 million was invested in the first phase of the two projects (UWSSRP: EUR 32.73 million / EPIRP: EUR 26.54 million). The remaining EUR 46.75 million was transferred to a second phase, though Germany was no longer involved at this stage.