The National Merchant Bank has secured $10 million loan from British International Investment (BII).
BII is United Kingdom’s development finance institution.
The loan is aimed at boosting agricultural exports and support sustainable farming in the country.
The funding will be used as a lending vehicle to exporting agribusinesses and for investment in climate-smart practices.
It supports growth of agricultural sector, which employs 65 percent of Zimbabwe’s population.
Allocation:- 70 percent will go to agricultural exporters (capital expenditure, infrastructure, imports).
And 30 percent is for sustainable agriculture projects (renewable energy, energy efficiency, climate resilience).
Zwnews
