The IDBZ was formed on the 31st of August 2005, taking over the assets and liabilities of the former Zimbabwe Development Bank (“ZDB”). It was primarily set up as a vehicle for the promotion of economic development and growth, and improvement of the living standards of Zimbabweans through the development of infrastructure, which includes but not limited to energy, transport, water and sanitation, information communication technology (ICT) and housing. The Bank is also enjoined to develop institutional capacity in undertakings and enterprises involved in infrastructure development in Zimbabwe (IDBZ Act (Chapter 24:14). The Bank, therefore, operates primarily as an infrastructure development finance institution (DFI).
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