The World Bank Group has announced the approval of a new Country Engagement Note (CEN) for Zimbabwe, covering the period from 2025 to 2026. This strategy is designed to support Zimbabwe's immediate development priorities and aligns with the nation's Vision 2030 and the National Development Strategy 2021-2025. The CEN aims to contribute to the World Bank Group's overarching goals of ending extreme poverty and promoting shared prosperity.
The CEN focuses on two main pillars. The first pillar is aimed at reducing macroeconomic distortions, enhancing fiscal policies, and improving economic governance in Zimbabwe. It also seeks to create an environment conducive to growth led by the private sector.
The second pillar targets building resilience through boosting social services that are pro-poor, empowering women, and delivering more efficient aid to vulnerable households. It also includes efforts towards climate change resilience and supporting energy transition initiatives.
"Zimbabwe has significant growth potential, with its well-educated workforce, abundant natural resources, and strategic location. Sustained, inclusive, and resilient growth will require building on recent reforms and advances in economic policy," said Nathan Belete, World Bank Country Director for Zimbabwe. He expressed optimism about supporting Zimbabwe towards a more prosperous economy benefiting both its citizens and the region.
To enhance private sector participation in this growth trajectory, the CEN plans to promote competitiveness across key economic sectors, reinforce business regulatory improvements, and develop a more reliable electricity supply for increased productivity.
Cláudia Conceição, IFC Regional Director for Southern Africa stated: "Promoting private sector development through a stable macroeconomic environment, broader, more reliable energy access, and targeted support for priority sectors through this CEN will be essential for creating jobs, promoting investment, and driving economic development."
Additionally, the strategy supports strengthening Zimbabwe's social protection system by improving targeting and implementation of assistance programs for vulnerable households. This includes enhancements in healthcare services quality focusing on maternal and reproductive health care. The strategy further addresses climate change resilience by advocating renewable energy use, better landscape management practices, and establishing robust disaster preparedness systems.
Informed by extensive consultations with stakeholders over two years along with analytical work conducted by the World Bank Group itself; this initiative reaffirms their commitment toward advancing Zimbabwe’s developmental objectives effectively.