The African Development Bank (AfDB) has approved a $4 million grant to support Zimbabwe’s efforts to settle its debt arrears and resume dialogue with its international creditors.
The funding will go towards the Zimbabwe Arrears Clearance and Debt Resolution Project (ZACDEP), a three-year program aimed at structuring discussions between the government, creditors, and development partners on debt resolution.
According to the AfDB, the project includes three components: strengthening dialogue through dedicated platforms, improving debt management and governance capacities, and coordinating and monitoring implementation. Zimbabwe’s public debt is estimated at around $21.5 billion, with nearly $11.7 billion in external debt, according to official data cited by the institution. The program is expected to be implemented from 2026 to 2029.
This decision comes as the country continues discussions with creditors as part of its efforts to emerge from a long period of restricted access to international financing. The pan-African institution notes that this initiative builds on previous governance and debt management programs already underway in the country.
