HARARE — Treasury has released US$50,000 for each of Zimbabwe’s 210 constituencies under the Constituency Development Fund (CDF), Speaker of the National Assembly Jacob Mudenda announced on Tuesday.
In his address to Parliament, Mudenda stated that Members of Parliament can now begin submitting their development project proposals for funding consideration, with a deadline set for November 30, 2024.
“Following the presentation of the Mid-Term Budget and Economic Review Statement on July 25, 2024, Treasury has made available US$50,000 per constituency under the CDF. Honourable Members are encouraged to submit their development projects before the 30th of November 2024,” Mudenda said.
He further emphasized the importance of transparency and accountability, urging MPs who have yet to submit reports on previous CDF allocations to do so before accessing new funding.
“All returning Members of Parliament who have not yet submitted their returns are encouraged to acquit before accessing new funds. Additionally, MPs are required to begin implementing CDF projects immediately once the funds are deposited, to avoid delays in project completion.”
The CDF allocation, equivalent to US$50,000 per constituency, will be disbursed in local currency, with the exchange rate determined on the day of disbursement. However, parliamentarians have been advocating for the funds to be disbursed in US dollars, citing the challenges posed by the instability of the local currency, which has led to service providers rejecting payments and contributed to unfinished projects across the country.
Source: ZimLive