Zim, EU Ink $80 Million Deal

Oscar J Jeke

Zim Now Reporter

The government of Zimbabwe and the European Union signed a US$80 million financing agreement in Harare on Wednesday. The deal, signed by Zimbabwe’s Minister of Finance, Economic Development, and Investment Promotion, Mthuli Ncube, and the European Union Ambassador to Zimbabwe, Jobst von Kirchmann, aims to enhance various sectors critical to the nation’s development.

The financing agreement targets several key areas, including agriculture value chains, gender equality, biodiversity and environmental resilience, and governance improvement. The initiative aligns with Zimbabwe’s National Development Strategy 1, which seeks to drive inclusive growth, economic stability, and sustainable progress.

During the signing ceremony, Prof Ncube expressed gratitude for the EU’s continued support, noting, "This funding will significantly contribute to our national development priorities and bolster the resilience of crucial sectors." The support is expected to enhance Zimbabwe’s agricultural capacity, with a focus on modernizing value chains to support rural development and strengthen the country's economic base.

The EU’s commitment to Zimbabwe extends to promoting gender equality and improving governance structures, two areas central to sustainable development. Ambassador von Kirchmann reaffirmed the EU's dedication to Zimbabwe’s long-term prosperity, emphasizing that the funding reflects Europe’s commitment to fostering trade, investment, and environmental stewardship in partnership with Zimbabwe.