The Zimbabwe Reconstruction Fund (ZIMREF)
is a country-specific multi-donor trust fund that was approved by the Board of Executive Directors of the World Bank in May 2014 and is expected to run until December 2019. The goal of ZIMREF is to contribute to the strengthening of Zimbabwe’s systems for reconstruction and development with a focus on stabilization and reform, development and poverty alleviation
ZIMREF is the key instrument for implementing the World Bank Third Interim Strategy Note for Zimbabwe and for supporting the implementation of the Government-driven Zimbabwe Agenda for Sustainable Socio-economic Transformation (ZIMASSET). Donors to ZIMREF include Denmark, the European Union, Germany, Norway, the State and Peace Building Fund, Sweden, Switzerland and the United Kingdom.
ZIMREF supports both recipient-executed, Bank-executed and Hybrid projects under its four programmatic windows, namely, (1) Private Sector productivity and competitiveness; (2) Governance, efficiency and effectiveness of public expenditure; (3) Strengthening livelihoods and resilience; and (4) Analytical and advisory work. As of December 31 2015, eight projects were approved. To date, ZIMREF has raised contributions and programmed interventions totaling $40 million.
The eight projects currently operational for ZIMREF are:
- National Water Project, recipient-executed ($ 10 million, recipient-executed);
- Public Financial Management Enhancement Project ($ 10 million, recipient-executed);
- Public Procurement Modernization Project ($ 2million, Hybrid implementation);
- Business Environment, Financial Sector and Investment Policy TA ($3.2 million, Bank-executed);
- Results-based Budgeting TA ($2.1 million, Bank-executed);
- Capital Budgeting TA ($4.3 million, Bank-executed);
- Poverty Monitoring and Evaluation TA ($2.5 million, Hybrid implementation); and
- Climate Change TA ($1.5 million, Bank-executed).