Tuesday 17 February 2015

EU Offers Zimbabwe $250 Million For Economic Development

The European Union (EU), which lifted economic sanctions on Zimbabwe recently, yesterday moved a step further in mending relations with southern African nation by handing out a $270 million stimulus package to boost economic development.

In October last year, the EU lifted trade sanctions imposed on Zimbabwe 12-years ago, hinging its decision on allegations of human rights abuse. The renewed relations has so far paved way for direct engagement between Zimbabwe and the economic bloc.

The $270 million was released yesterday to Zimbabwe under the National Indicative Programme (NIP) and will be used to build governance structures, as well as develop the health and agriculture sectors. “We have made an important step in our cooperation with Zimbabwe. We look forward to work in all the strategic and important areas covered by this National Indicative Programme, with the aim to foster the political and economic reforms Zimbabwe is undertaking. A fruitful political and policy dialogue should underpin our cooperation,” said Head of the EU Delegation to Zimbabwe, Ambassador Philippe Van Damme the handover ceremony of the grant.

Since the suspension of bilateral co-operations with the Zimbabwean government in 2002, Europe had been channelling all humanitarian support through non-governmental organizations.

In furtherance of a renewed allegiance, the EU also announced that Zimbabwe’s President Robert Mugabe will be allowed  land on European soil for the first in 13 years. This came after the EU lifted travel sanctions on him following his election as Africa Union(AU) chairperson, though it said he will only be allowed for one year and only when travelling on AU business.