IDBZ to raise US$79,5 million to finance infrastructure projects

THE Infrastructure and Development Bank of Zimbabwe (IDBZ) is seeking to raise US$79,5 million to finance several projects in the housing, energy, transport and health sectors.

This was revealed in the Government Gazette published last Friday.

However, most of the projects earmarked by the bank are in real estate around housing, accommodation and mortgage or insurance services.

“IDBZ will raise financing amounting to US$79,5 million, and which proceeds will be partly applied towards payments for goods, works, consulting and non-consulting services to be procured under these projects and programmes,” the Government Gazette read.

“Procurement of contracts financed by IDBZ will be conducted through the bank’s procurement procedures and guidelines and is open to all eligible bidders as defined in the guidelines.”

Among the funds to be raised include those for the Kariba housing project remedial works which has a budget of US$3,1 million, while US$1,8 million is set for Spitzkop Housing Project.

IDBZ will fund the Lupane Students and Staff Accommodation City Commercial Centre for US$5,9 million, Lupane Students and Staff Accommodation City (Phase 1) US$11,8 million and Kwekwe Students and Staff Accommodation City US$27,6 million.

Another US$6,8 million was allocated to the Kwekwe Students and Staff City Commercial Centre (Kwessac) and US$7,5 million towards the Kwessac Health Centre.

IDBZ will raise US$5,5 million for the engineering, procurement, and construction of a solar energy project in Gutu.

“Specific procurement notices for contracts to be tendered under the IDBZ’s competitive bidding procedures and for contracts for consultancy services will be announced, as they become available on the market, trade or business publications of wide international circulation and local newspapers in 2024,” IDBZ said.-newsday