Zimbabwe Targets US$2.6 Billion Bridge Financing b...

Zimbabwe Targets US$2.6 Billion Bridge Financing by Early 2026

Finance Minister Mthuli Ncube

Zim Now Reporter

Zimbabwe anticipates securing US$2.6 billion in bridge financing by the first quarter of 2026 as part of efforts to clear decades-old arrears and regain access to international capital markets, Finance Minister Mthuli Ncube confirmed.

Speaking on the sidelines of the African Development Bank’s annual meetings in Abidjan, Ivory Coast, Ncube outlined the country’s debt resolution roadmap.

“Government’s preferred strategy to clear the arrears” is through official bilateral bridge loans, he said, adding that Zimbabwe has formally requested support from 10 nations, including the UK, Germany, and Brazil, to act as bridge financiers.

Zimbabwe, which has been shut out of global credit markets since defaulting on its debt in 1999, owes an estimated US$21 billion to various creditors. The bridge finance is expected to be a critical tool to repay international financial institutions and unlock future funding opportunities.

Progress is already underway, Ncube said the country is close to finalizing a staff-monitored program with the International Monetary Fund by the end of June a vital step in attracting bridge financing support. An IMF delegation is scheduled to visit Zimbabwe next month to assess the progress.

Roger Stuart, head of the regional hub at the European Investment Bank, emphasized the bank’s position in the debt talks, stating that the EIB owed US$390 million including US$150 million in principal expects to be treated as a preferred creditor.

"That is the totality of the arrears will be paid” to the EIB without any losses, he said. “We will be part of a process whereby all the international financial institutions will agree.”

Outgoing AfDB President Akinwumi Adesina voiced strong support for Zimbabwe’s efforts, encouraging the AfDB to explore using resources from its African Development Fund to aid in arrears clearance.

“I am ending my time as AfDB president but will not and will never end my support for Zimbabwe,” Adesina said. “Whoever is my successor will continue and takeover the work.”