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The Herald
Herald Reporter
Entrepreneur Mr. Strive Masiyiwa has called on the World Bank (WB), the International Monetary Fund (IMF) and other multilateral institutions to provide humanitarian support to Zimbabwe due to the economic costs of controlling Covid-19 and the need to improve medical services.
Masiyiwa is also seeking global financial support for Sudan, another African country under sanctions, and is therefore missing out on many global aid programs.
To circumvent political disputes, he proposed the creation of special-purpose trust vehicles, humanitarian trusts under independent leadership, to channel humanitarian support and promised to personally contribute as an individual to any trust for Zimbabwe.
It has been at the forefront, for several weeks, requesting debt relief and economic impact stimulation on behalf of the African continent.
“In making these appeals, those of us who have called for these measures have used our benchmark measures that have been taken in the United States, Europe, Asia and China,” he said.
“So far, I am pleased that there has been increasing support for these measures. At recent World Bank, IMF and G20 meetings, many African countries secured debt relief through “stops” on interest payments, which are valued at more than $ 22 billion. “
More than half of that money has been disbursed to African countries, since it was in debt service accounts.
Countries can now urgently buy medical equipment, personal protective equipment and ventilators. They can also train and pay doctors and nurses.
Mr. Masiyiwa said that two countries “were notorious in their failure to provide any form of relief: Zimbabwe and Sudan.”
“This is because they are under sanctions. I have not spoken to anyone in the governments of these countries, including that of Zimbabwe, regarding this matter. I have no personal contact with the leaders of these governments, ”he said.
Masiyiwa said his appeal was not a request to lift the sanctions, but rather support for countries to boost their economies.
Through their family foundation, Masiyiwa and his wife Tsitsi continue to assist Zimbabweans, including preparations for the potentially catastrophic impact of Covid-19.
But, he said, since they are just private citizens, support is not enough.
As it was critical that international support come quickly, to address the needs of this pandemic, Mr. Masiyiwa proposed the creation of special purpose fiduciary vehicles, under the leadership of independent people, including global humanitarianists.
“I would like to appeal to the World Bank, the IMF and other multilateral institutions to create humanitarian trusts for each country, which are managed by third parties, along the lines of the Global Fund.
“I have consulted extensively with experts and many have told me of numerous precedents, at the level of the UN, the IMF, the World Bank, the EU or even
The United States government itself. The more countries that can contribute, even from China, and our African brothers, the more credible it would be, as global compassion towards the peoples of these very poor nations.
“I would urge you to consider planting trusts with at least $ 500 million and inviting others, including private philanthropy, to participate. In the case of Zimbabwe, I will personally contribute to a trust and encourage friends and partners to do the same, “he said.
The money would be used to provide urgently needed medical supplies, training and compensation for health workers. Masiyiwa said the trusts could also provide urgently needed repairs to rural hospitals and clinics across the country.
