Thank you, hon Chairperson. Hon members, the question relates to Zimbabwe. The question asks why R300 million was transferred to the Zanu-PF government in Zimbabwe in 2010, and whether the utilisation of that monetary gesture was money well spent on the part of South Africa, and whether the Presidency regrets this as wasteful expenditure.
Hon member, the answer is that the South African government did not transfer any money to the government of Zimbabwe in 2010. The hon member could be referring to the R300 million that was transferred to the inclusive government of Zimbabwe, comprised of Zanu-PF and the two Movement for Democratic Change formations in 2009. This was South Africa's contribution to the Short-Term Emergency Recovery Programme for Zimbabwe, following the 30 March 2009 SADC Extraordinary Summit's call to all its member states to support the Short-Term Emergency Recovery Programme in the form of budgetary support and credit lines.
The support from our government took the form of a targeted contribution to the 2009 budget of the Zimbabwean government. This contribution was governed by a memorandum of understanding signed by the respective ministries of finance of the two countries. As provided for in this memorandum, the funds were transferred to the Zimbabwe ministry of finance in three equal tranches of R100 million in May, June and August 2009.
The beneficiary sectors of this contribution included the monetarisation, that is the conversion of Zimbabwe dollars held in private bank accounts, to US dollars; and assistance to vulnerable groups such as the aged and orphans. In this regard, the South African government has no regrets, as the funds were accounted for, and used for the purposes for which they were intended. I thank you. [Applause.]