Zimbabwe Seeks $2.5B Bridge Financing from UK, Germany, Japan, France, Algeria
Zimbabwe is pursuing a US$2.5 billion bridge facility to clear arrears to the African Development Bank and the World Bank. Finance Minister Mthuli Ncube disclosed the talks on April 15 during an online briefing at the IMF/World Bank Spring Meetings.
Scope of the talks
The government is engaging potential sponsors from the UK, Germany, Japan, France and Algeria. Zimbabwe seeks $2.5B bridge financing from UK, Germany, Japan, France, Algeria and other partners.
Ncube described the financing as a short-term arrangement. Its sole purpose is to settle arrears, not to fund new projects.
Public debt picture
The Quarterly Public Debt Bulletin for December 2025 put total public and publicly guaranteed debt at US$21.53 billion. This was lower than the US$23.35 billion reported in September.
Treasury trimmed the September figure by excluding Reserve Bank of Zimbabwe liabilities of US$2.24 billion. External debt now stands at US$11.7 billion.
Domestic obligations total US$9.8 billion. Of external debt, Zimbabwe owes the World Bank US$1.61 billion and the AfDB US$759 million.
Debt breakdown
- Total public and publicly guaranteed debt: US$21.53 billion.
- External debt: US$11.7 billion.
- Domestic debt: US$9.8 billion.
- World Bank arrears: US$1.61 billion.
- AfDB arrears: US$759 million.
Structure of the bridge facility
The proposal uses a two-step model. First, soft windows under the African Development Fund would tap grant-based resources.
Second, a champion or group of champions would provide the US$2.5 billion facility. Technically the loan would run for only hours, but it is structured as a 24-hour facility for operational purposes.
Set Aside mechanism and champions
The repayment route would use the AfDB Set Aside mechanism within the multilateral development bank framework. The Set Aside falls under the AfDB’s Transition Support Facility.
Ncube said Dr Sidi Ould Tah has agreed to champion the arrears clearance effort. He succeeds Dr Akinwumi Adesina and will work alongside former Mozambican president Joaquim Chissano.
Conditions and outlook
The finance minister called the arrangement a give-and-take process. He stressed the need for additional partners to underwrite the facility.
Clearing arrears is expected to restore access to medium- and long-term financing. This financing would support priority projects under the National Development Strategy 2.
Zimbabwe is currently operating under a 10-month IMF Staff‑Monitored Programme. That programme runs until December.
Report compiled for Filmogaz.com using the December 2025 public debt bulletin and statements by Finance Minister Mthuli Ncube.
