Leonard Ncube Victoria Falls
MORE than 25 development finance institutions from the Sadc region are meeting in Victoria Falls to deliberate on how best future capital projects can embrace environment friendly practices.
The meeting comes on the background of climate change induced disasters such as cyclones that have characterised the region recently. The finance institutions, under the banner of Sadc Development Finance Institutions (Sadc-DFIs) and members of the Sadc Development Finance Resource Centre (Sadc-DFRC), play a humanitarian role in times of disasters.
Each country is represented at Sadc-DRC by DFIs, and Zimbabwe’s representatives include Agribank, Infrastructure Development Bank of Zimbabwe (IDBZ), Industrial Development Corporation (IDC) Zimbabwe and Small and Medium Enterprises Development Corporation (SMEDCO).
The conference that ends on Friday is running under the theme: “Green Financing.”
Agribank head of strategy, marketing and business development Mr Joseph Mverecha said Sadc-DRC members will be expanding funding of capital projects in the region hence the need to embrace eco-friendly approach.
“What we are saying is that DFIs must be consistent with climate change and have projects that are also consistent. What we want to do is to tackle changes in our weather patterns, which is affecting us all as a region,” he said.
“The region is going to expand financing of infrastructure such as road, water, energy and agriculture and we are saying the projects must be consistent with green revolution.”
Reserve Bank of Zimbabwe deputy governor Dr Kupukile Mlambo will be the guest of honour at the official opening set for today here. All Sadc countries will be represented at the conference.