The Ordinary Council of Ministers of the Southern African Development Community (SADC) has called for the rapid implementation of the Regional Development Fund (RDF). The RDF aims to provide concessional funding for various projects, including infrastructure development, industrialisation, and social development and integration within the SADC region.
During their meeting held in Harare, Republic of Zimbabwe on 12th and 14th March 2025, the SADC Council of Ministers noted the progress made in the operationalisation of the SADC RDF and endorsed the decision of the Ministers of Finance to fast-track its implementation considering the current global geopolitical developments affecting the financing of programmes and projects both at national and regional levels.
Honourable Professor Amon Murwira, Minister of Foreign Affairs and International Trade of the Republic of Zimbabwe and Chairperson of the SADC Council of Ministers, said the SADC region must strive to attain economic independence and be able to resource programmes to enable the region to achieve the aspirations of a peaceful, inclusive, competitive, middle-to-high income industrialised region as envisioned in the SADC Vision 2050.
In his remarks, the SADC Executive Secretary, His Excellency Mr. Elias Magosi highlighted that while the region made significant strides in advancing regional integration and development, several challenges hindered the full attainment of the region’s objectives. These challenges include financial resource and capacity constraints; the slow pace of signing, ratification, and accession to legal instruments.
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