Zimbabwe Reconstruction Fund (ZIMREF)

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).

Results Framework

  • Output 1:  The Business Environment, Financial Sector and Investment Policy TA Program aims to support implementation of inter alia, Doing Business reformsbuilding credit and capital markets infrastructure, and reforming investment policies.
  • Output 2: The Capital Budgets TA Program aims to develop modern public investment planning, managementand resource mobilization systems, improve state-owned enterprise governance and support development of a pipeline of feasible projects in transport and energy;
  • Output 3A:  The Public Financial Management Enhancement Project aims to continued modernization of key elements of the public financial management system in including coverage and reporting, internal and external audit, and Parliamentary and civil society oversight;
  • Output 3B:  The Public Procurement Modernization Reform Project aims to support the modernization of public procurement regulatory framework and practices and develop and pilot e-government procurement;
  • Output 4A:  The Results-based Budgeting Technical Assistance (TA) Program will support the introduction of program budgeting, as well as key reforms to strengthen the management of financing and public expenditures in key social sectors.
  • Output 4B:  The Poverty Monitoring and Evaluation TA Program aims to improve the monitoring of poverty and shared prosperity outcomes and their integration into national strategy and planning documents.
  • Output 5A The Zimbabwe National Water Project aims to improve water supply in the small town sector, strengthen the Zimbabwe National Water Authority and the regulatory framework in the water sector. 
  • Output 5B:  The Climate Change TA Program aims to help develop Zimbabwe’s climate policies, and its pipeline of climate adaptation investments, and mainstreaming of climate changes in investment planning. 



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