AfDB extends US$10m grant to support tax, accountability projects
Staff Reporter
The African Development Bank (AfDB) has extended a US$10,4m grant to Zimbabwe which seeks to improve the southern African country’s tax management systems.
The funds running from today until December 31, 2023.
Finance and Economic Development Minister, Mthuli Ncube signed the agreement for the grant on behalf of government, while AfDB country manager, Damon Kitabire inked his signature on behalf of the bank in Harare Thursday.
Under this agreement, the government will pay ZWL$1.1m as its own contribution to the project.
The grant will support ZIMRA, Parliament of Zimbabwe and the Office of the Auditor-general.
“The project is expected to transform transparency, accountability and oversight of institutions in line with Transformation Stabilisation Programme,” Ncube told a press briefing on Thursday.
“This support is coming at an opportune time when government is prioritising governance, strengthening economic development of the country, enhance tax system efficiency as well as strengthening public accountability and improving Parliament’s oversight capacity.”
Kitabire said the grant will also improve in establishing systems that promote accountability of public funds.
“We believe it will go a long way in supporting the digitisation of tax system in Zimbabwe. In addition, this will strengthen the oversight role of Parliament and improve the capacity of the Office of the Auditor-General,” he said.
