President of the African Development Bank Group, Akinwumi A. Adesina is in Zimbabwe on a two day working visit.
Apparently, he has agreed to a request by the Zimbabwean government to lead the country’s arrears clearance and debt resolution plan with international creditors.
While in the country, Adesina is expected to discuss “potential areas of technical assistance” to the Harare administration.
Zimbabwe cannot get credit from lenders such as AfDB and other multilateral financial institutions because of debt arrears amounting to over US$2.6 billion.
The overarching objective of the AfDB Group is to spur sustainable economic development and social progress in its regional member countries (RMCs), thus contributing to poverty reduction.
The Bank Group achieves this objective by mobilizing and allocating resources for investment in RMCs; and
providing policy advice and technical assistance to support development efforts.
And in 2015, all multilateral development institutions agreed on a same set of objectives, called the Sustainable Development Goals which the bank is also striving to promote.