Categories: Zim Latest

Botswana bails out broke Zimbabwe govt

BOTSWANA is extending $600 million in two major facilities to Zimbabwe’s private sector and diamond industry that will give relations between the two country a huge lift.

Zimbabwe this week hosts Botswana for a Bi-National Commission which will result in the signing of the agreements by Presidents Mnangagwa and Mokgweetsi Masisi on Thursday.

Preparatory meetings for the event began yesterday and Zimbabwe’s Foreign Affairs and International Trade permanent secretary, Ambassador James Manzou, who opened the two-day meeting pitting officials from both countries, revealed the details.

“Zimbabwe welcomes with much appreciation that Botswana proposed a BWP1 billion (approximately US$94,5 million) credit facility, in support of the Zimbabwe private sector. I would like to encourage all of us as officials to fully utilise our two working days to synthesise the remaining issues that will lead to the operationalisation of this facility.

“Zimbabwe is also appreciative of the US$500 million diamond facility offered by Botswana. I also urge this meeting of officials to work in earnest to ensure that all outstanding issues relating to this facility are finalised,” Ambassador Manzou said.

He also thanked Botswana for supporting Zimbabwe’s efforts to turn around the fortunes of its economy, especially the Transitional Stabilisation Programme. thechronicle


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