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Nqobile Bhebhe, [email protected]

THE rebranded Infrastructure and Development Bank of Zimbabwe (I&DBZ) plans to raise US$79,5 million, to be partially applied towards payments of goods, consulting and non-consulting services to be procured under various housing, energy and transport planned projects.

Formerly known as the Infrastructure Development Bank of Zimbabwe, the rebranded I&DBZ seeks to reflect the bank’s broader mandate, which incorporates infrastructure and, at the same time, promotes developmental financing across all sectors of the economy.

The projects are spread across the country. Of the earmarked US$79,5 million, a total of US$52,1 million is for university students and staff accommodation projects.

Lupane Students and Staff Accommodation City (Lussac) Commercial Centre has an estimated budget of US$5,9 million.

The scope of work ranges from engineering consultancy services to the supply of building materials, furniture and civic works.

I&DBZ added that a further US$11,8 million is for Lupane Students and staff accommodation City (Lussac) Phase 1 residential.

Kwekwe Students and Staff Accommodation City (residential) have an estimated budget of US$27,6 million and the institution’s commercial centres have a US$6,8 million budget.

Under a housing budget of US$4,9 million, Kariba housing remedial works have a budget of US$3,1 million and US$1,8 million is under the Spitzkop Housing project.

 The development bank states that it has provisions for medical students and staff accommodation of US$13,9 million, of which Killarney Medical Staff Accommodation has an estimated budget of US$6,4 million.

 The project entails construction works, supply of building materials, civil works and other services.

The energy and power supply sector has an estimated budget of US$5,5 million earmarked for the Gutu Solar Project.

Early this year, it said as an Infrastructure and Development Bank, the Bank will broaden and deepen             private sector support in pursuit of strengthening the execution of its mandate.

Its broad mandate is to improve the standard of living of Zimbabweans through sustainable economic growth and investment in infrastructure, as well as addressing funding shortfalls across all sectors of the economy.

The bank has been visible in implementing various projects in the region.

 For instance, last year, the Bank reached practical completion of the Bulawayo Student Accommodation Complex (BSAC), which will house more than 1 000 tertiary institution students.

The multi-purpose three-block flats complex dubbed “Bulawayo Students City” has 516 rooms, 264 for males and 252 for females, with a capacity to accommodate 1 032 students.

The project is expected to alleviate the accommodation shortage for tertiary institution students in Bulawayo and students are expected to move in before the end of the year.

The facility is self-contained and has fast food outlets, shops, salons and sporting facilities.

It is also heavily involved in the development of Willsgrove Park Phase 2 housing project, through a Joint Venture with Whitepear Farming Company (Private) Limited.

Whitepear farming company is the owner of the land. The project is located 11km south of Bulawayo Central Business District along Old Gwanda Road (12th Avenue Extension).

A few years ago, I&DBZ handed over a solar-powered borehole water system to Shashane Adventist Primary School in Matobo District, in Matabeleland South province.

The project was part of the bank’s corporate social responsibility (CSR) initiative. The bank drilled a 120-metre-deep solar-powered borehole and installed a 5 000 litre water tank and                 the project was funded to the tune of US$17 000.