IDBZ has acquired "sizeable" pieces of land in
"The IDBZ intends to raise
"To ensure that the proposed instruments receive the desired support from local and foreign investors, the bank is also approaching regional development finance institutions such as
Mr Chikaura said the projects would provide housing for the low to middle income groups, with a bias towards the civil service. Subject to additional land being available, the bank plans to implement similar projects in other cities countrywide.
Housing finance schemes which are currently available have little incremental effect on the national housing stock as these are either exclusively packaged for a few targeted groups or are priced beyond the reach of the poor.
Under Zim-Asset, Government intends to reduce housing backlog through the provision of serviced land, strengthen public private partnerships and adoption of new building technology.
The Government will also strengthen community-based housing organisations, strengthen micro-housing finance institutions and adopt densification (vertical expansion).
Despite the numerous challenges that the IDBZ is facing in the form of inadequate capitalisation and being an
These include the successful capital raise by way of a bond issue to finance the
The bank has also managed to overcome several challenges and has consistently posted profits since dollarisation in 2009 and has paid dividend to shareholders since 2011. The IDBZ again expects to post another profit for the financial year ended
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