NEW: Zimbabwe advances AIIB membership bid following Prof Ncube’s high-level meeting in Beijing

Harmony Agere

A delegation from the Ministry of Finance, Economic Development and Investment Promotion, led by Professor Mthuli Ncube, today held a meeting with the Asian Infrastructure Investment Bank (AIIB) leadership as part of the steps for the country to join the financial institution.

The meeting follows Zimbabwe’s formal expression of interest in joining the multilateral development bank.

Professor Ncube and his delegation met AIIB President Jiayi Zou and senior management to discuss Zimbabwe’s development priorities and opportunities for deeper cooperation.

“During the discussions, the AIIB outlined its four priority areas, namely sustainable infrastructure development, green and climate-resilient infrastructure, regional connectivity and integration and mobilisation of capital for private sector development financing,” reads the statement.

“These pillars guide the Bank’s financing approach across transport, energy, water, urban development, digital infrastructure and climate resilience projects.”

Professor Ncube highlighted the strong alignment between the bank’s mandate and Zimbabwe’s infrastructure development needs.

“He emphasised that Zimbabwe is seeking long-term financing and technical partnership to expand sustainable energy and water systems, which are central to the country’s economic transformation,” reads the statement.

The minister also noted that the AIIB’s priority areas strongly resonate with Zimbabwe’s development agenda, particularly in the areas of climate change resilience and hydro-infrastructure development.

In response, AIIB President Jiayi Zou commended Zimbabwe for recent macroeconomic stability gains.

“She further expressed appreciation for Zimbabwe’s commitment to reforms and its interest in becoming a member of the Bank,” reads the statement.

According to the Ministry of Finance, the AIIB President specifically cited the achievement of single-digit inflation as a critical foundation for sustainable development and successful infrastructure investment.

Both parties agreed to continue technical engagements towards Zimbabwe’s potential membership.

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