The UN SDG-Fund is contributing USD 10 Million to the Renewable Energy programme whilst the Government of Zimbabwe through the Infrastructure Development Bank of Zimbabwe (IDBZ) and local partners including Old Mutual Investment Group (OMIG), Zimnat Asset Management and CABS are supporting the programme with a total of USD 35 Million.
The 4-year programme, which is expected to kick-off in April 2022, was jointly developed by UNESCO (Lead agency), UNWOMEN, UNDP and the Government of Zimbabwe.
It aims to leverage private investments in order to support Renewable Energy based projects for the achievement of the SDGs in Zimbabwe.
The programme will innovatively target Sustainable Development Goals 5, 7, 8, 9, 13 and 17, whilst harnessing the cross-cutting nature of these goals to achieve the rest of the SDGs.
It will also contribute towards the attainment of a number of key national priorities of the Government of Zimbabwe as spelt out in the National Development Strategy (NDS 1) and the United Nations Sustainable Development Cooperation Framework (UNSDCF 2022-2026), by working towards national goals on economic development, energy access, climate action, women and youth empowerment, and capacity development in RE for productive uses.
The main intervention of the programme, centres on the establishment of an innovative inclusive & gender responsive Renewable Energy Fund (REF) that aims to leverage private sector and financial markets to finance RE projects that have a return on investment while achieving social impact for the acceleration of SDG achievement in Zimbabwe.
