World Bank responds to Patson Dzamara. Says it will only resume financial support when arrears are cleared

The World Bank responded to Patson Dzamara‘s petition which he presented to the finance institution cautioning it against extending a rescue package for the Zanu-PF government. The World Bank said that it is not considering giving Zimbabwe any emergency funding because of outstanding arrears, and this position will not change anytime soon.

Part of the response read,

In Zimbabwe, the World Bank can only resume direct financial support to Zimbabwe when the issue of arrears is fully resolved. This approach is standard to all international financial institutions. Upon arrears clearance, however, Zimbabwe would be eligible as a borrowing member of the bank to a broad range of financing instruments, all of which would be subject to the strong safeguard policies and mechanisms mentioned above. To this end, I would like to invite you to dialogue with our team working on Zimbabwe to help improve our understating of the challenges in Zimbabwe today and to help us carve out an appropriate engagement strategy of your country.

More: Daily News

 

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