Zimbabwe’s formal admission as a borrowing member of the BRICS New Development Bank (NDB) has opened a new frontier for long-term infrastructure financing, with government eyeing major projects including power expansion, highway rehabilitation and a Harare monorail system.
Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube announced the milestone following the adoption of Resolution No. 2026-BG-R129 by the Bank’s Board of Governors on July 10, 2026 .
“The membership of the New Development Bank marks a significant milestone in Zimbabwe’s international re-engagement and resource diversification agenda,” Prof.Ncube said .
Government is considering several strategic projects for possible NDB funding, including the development of Hwange Units 9 and 10, asset recycling of the Beitbridge-Harare Highway, securing Zimbabwe’s USD 150 million contribution to the Batoka Gorge Hydropower Project with Zambia, and a proposed monorail linking Chitungwiza, Harare and Mt Hampden .
“Our membership is not only about accessing financial resources, but also about strengthening our strategic partnerships with some of the world’s fastest-growing economies,” he said.
Under the admission terms, Zimbabwe will subscribe to 630 shares valued at USD 63 million, comprising USD 12.6 million in paid-in capital and USD 50.4 million in callable capital .
“Industrialisation requires patient capital. It requires investments in energy, transport infrastructure, water systems and productive sectors of the economy.
Membership of the NDB creates opportunities for Zimbabwe to pursue these priorities while advancing our national development aspirations.”
Government is still preparing its portfolio for submission to the bank but said membership positions Zimbabwe to mobilise affordable financing for transformative infrastructure that supports economic growth .
“Through strategic partnerships and access to development finance, we will continue creating conditions that support private sector growth, innovation and value addition,” he said .
