UN SDG-Fund approved $45 million for Zimbabwe Renewable Energy Programme

The United Nations Sustainable Development Goals Fund, a multi-donor and multi-agency international development mechanism established in 2014 has authorized a $45 million programme to assist Zimbabwe in achieving its clean energy and sustainable development goals. The UN SDG-Fund has committed to contribute $10 million, whilst the Zimbabwean government, through the Infrastructure Development Bank of Zimbabwe (IDBZ), and local partners including Old Mutual Investment, CABS and Zaminat Asset Management would invest $35 million in the programme.

UNESCO, UNWOMEN, UNDP, and the Zimbabwean government collaborated to develop the programme, which aims to contribute to the achievement of all the SDGs but specifically targets SDG 5, 7, 8, 9, 13, and 17.

The 4-year programme, scheduled to begin in April 2022, intends to leverage private capital to support renewable energy-based projects in Zimbabwe. The investment will act as a catalyst for Zimbabwe to achieve its clean and affordable energy targets and leverage them to attain other SDGs.

The programme's primary intervention is the establishment of an innovative, inclusive and gender-responsive Renewable Energy Fund (REF) that leverages the private sector and financial market to finance profitable renewable energy projects that achieves social impact.

In addition, the programme aims to produce a technically skilled Zimbabwean workforce through education in Science, Technology, Engineering and Mathematics (STEM), ICT, and renewable energy.

Highlights of Zimbabwe

GDP: $16.7 billion as at 2020

Population: 14.8 million as at 2020

Access to electricity: 41% as at 2019

Renewable energy (% of TFEC): 81.4% as at 2018