The African Export-Import Bank (Afreximbank) has approved US$70 million to finance the expansion and upgrade of the Beitbridge border post in Zimbabwe, the ruling party has disclosed.
The Beitbridge border post upgrade project, which is a public-private partnership, is the first of its kind in Zimbabwe.
The upgrade will include the procurement of technical equipment and software, thus modernizing the border post to ensure smooth service during the concession period.
It is funded by African financial institutions that have come together to provide commitments in the syndicated senior term loan facility.
In addition, investments will be made in Beitbridge town, including developing a fire station, residential building units, housing, sewer lines, housing electrical supply lines, a reservoir, water pipelines, a wastewater treatment plant, a water pump station & other infrastructure.