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Business Reporter
The implementation of planned programmes and projects under the Zimbabwe Interim Poverty Reduction Strategy Paper will require about $2,7 billion over a two-year duration to 2018, i-PRSP coordinator Dr Jesimen Chipika said.

The I-PRSP was formulated out of the need by Government to mitigate poverty in line with the Zimbabwe Agenda for Sustainable Socio-Economic Transformation.

The Ministry of Finance and Economic Development coordinated the development of the i-PRSP that will focus on well targeted measures to be implemented in the short to medium term, with long lasting impacts that guarantee improvement in people’s welfare.

Dr Chipika said an estimated $800 million has already been mobilised towards different poverty reduction programmes through Government and several development partners.

“The estimated resource requirements for the implementation of planned programmes and projects underpinning this i-PRSP amounts to at least $2,7 billion over the two-year duration to 2018.

“Of this amount, approximately $800 million is already secured under the on-going poverty reduction related programmes by both Government and development partners,” said Dr Chipika while making a presentation at the launch of the i-PRSP yesterday.

“This leaves a balance of about $1,9 billion to be mobilised through the national budget, cooperating partners as well as other domestic and external sources,” she said .

Dr Chipika said there is need for stakeholder participation in mobilising the remaining funds required for the programme.

“I am appealing to all stakeholders, including the private sector and development partners to complement Government in mobilising and channelling resources to finance the identified gap.

“It is only through such a broad partnership approach to development in which all stakeholders work together that we can reduce poverty,” said Dr Chipika.

“This will not be the end of the programme because within the next two years we will be conducting some more consultations for the full I-PRSP which will run for five years,” she said.

Finance and Economic Development Minister Patrick Chinamasa said the strategy is also expected to facilitate the re-engagement process with the International Financial Institutions and cooperating partners, which is key in financing the country’s development process.

The Treasury intends to use this document as a basis for negotiations to secure funding from the World Bank in the event that Zimbabwe – World Bank relations are normalised following successful clearance of arrears.

The document will also be used in guiding Government policy formulation.