Zimbabwe Must Seize ”Window of Opportunity” From Industrialized Countries Mandated To Provide Climate Finance – UNDP

By Ross Moyo

Finance Minister Mthuli Ncube has been urged to take advantage of Zimbabwe’s “window of opportunity” which it can seize from industrialized countries that are mandated to provide climate finance.

United Nations Development Program (UNDP) project manager for climate development framework, Raul Fernandez, told, delegates this week at an economic summit hosted by the country’s Treasury in the resort city of Victoria Falls.

According to the UNDP Project manager for climate development framework, engagements with Zimbabwe’s different development partners indicate that it is “an option that they are willing to consider,”

This is despite the country been locked out of international capital markets since 1999 after it defaulted on its debts. The southern African nation has been unable to meet its obligations, and its interest payments have ballooned.

Zimbabwe sought  help from former Mozambique President, Joaquim Chissano, and the African Development Bank president, Akinwumi Adesina,  in 2022 to lead restructuring talks with creditors. The nation’s creditors include the Paris Club, World Bank, European Investment Bank and the AfDB.