Zimbabwe Reaps the Benefits of China’s flagship BRI
By Joburg Post
China’s signature policy programme, the Belt and Road Initiative (BRI) has opened contemporary opportunities for Zimbabwe to elevate its relationship with Beijing. During the second BRI summit, China was ready to unlock multi-billion dollar deals for countries partnered with the initiative, Zimbabwe being one of them.
China has provided a grant of 673.43 million yuan for the building, which can permit the growing legislature to convene in easier surroundings. With several on-going projects and others still on the cards, infrastructural development has become the foundation of the China-Zimbabwe partnership with Asia’s substantial input of billions of US dollars.
China has become the most critical contrivance of Foreign Direct Investment (FDI), in various sectors of infrastructure in the Zimbabwean economy, since Zimbabwe adopted its "Look East Policy" in 2003.
The Belt and Road Initiative (BRI) contributes an all-encompassing economic process to assist Zimbabwe to attain its goal of middle financial gain standing by 2030. The BRI is a bold effort to boost regional cooperation and property on a trans-continental scale, aiming to strengthen global infrastructure trade, and investment links between China. China seeks to recreate the ancient Silk Road trade routes, China’s master plan for trade to bolster the international economy.
China indicated that it's willing to dovetail the BRI initiative with the proposed 2063 agenda discussed with the African Union. Social development remains a priority, with China’s investments building facilities and hospitals within the country and sinking boreholes in drought-stricken areas, whereas construction of a replacement parliament building is taking form in the northwest of Harare. Among deals signed between Zimbabwe and China, underneath the framework of FOCAC, Zimbabwe has thus far contributed US $3 billion from the fund. Most of the projects are currently in numerous stages of implementation.