THE World Bank Group’s (WBG) board of executive directors has approved the new country engagement note for Zimbabwe (2025-2026), focused on supporting the country’s immediate development priorities.
The economy is facing a plethora of challenges, including currency volatility, depressed consumer spending, daily power outages limiting production, low foreign currency generation, dilapidated infrastructure, climate change, political instability, policy inconsistency and below normal foreign direct investment.
“The World Bank Group’s board of executive directors has approved the new country engagement note for Zimbabwe (2025-2026), focused on supporting the country’s immediate development priorities,” the World Bank said in a statement.
“Aligned with Zimbabwe’s Vision 2030 and the National Development Strategy 2021-2025, the country engagement note contributes to the World Bank Group’s mission of ending extreme poverty and boosting shared prosperity.”
World Bank country director for Zimbabwe, Nathan Belete, said sustained, inclusive and resilient growth required building on recent reforms and advances in economic policy.
“Zimbabwe has significant growth potential, with its well-educated workforce, abundant natural resources and strategic location,” he said.
“Sustained, inclusive and resilient growth will require building on recent reforms and advances in economic policy. We look forward to supporting Zimbabwe on this path towards a more prosperous economy that benefits both its people and the broader region.”
The country engagement note is structured around two pillars.
According to the World Bank, the first pillar aims to support the country in reducing macroeconomic distortions, strengthening fiscal policies and improving economic governance while fostering a more conducive environment for private sector-led growth.
The second pillar seeks to help build resilience by boosting pro-poor social services, empowering women and delivering more efficient assistance to vulnerable households.
It also supports resilience to climate change and supports the energy transition.
“To foster the private sector’s role in this growth, the country engagement note will promote increased competitiveness of important economic sectors, reinforce improvements to the business regulatory environment and support development of a more reliable electricity supply for greater productivity,” World Bank said.
International Finance Corporation regional director for southern Africa, Cláudia Conceição, called for the promotion of private sector development in the country.
“Promoting private sector development through a stable macroeconomic environment, broader, more reliable energy access and targeted support for priority sectors through this country engagement note will be essential for creating jobs, promoting investment and driving economic development,” Conceição said.
“We look forward to continuing to support Zimbabwe through our advisory and analytical programmes to this end.”
The country engagement note is also expected to support the strengthening of the government’s social protection system through improved targeting and implementation, enabling more efficient social assistance for the most vulnerable households, especially during crises such as the current drought.
