Botswana Finally Approves US$70m Credit Line for Zimbabwe Manufacturing
Ntungamili Nkomo & Gibbs Dube
Washington 07 September 2010
Finance Minister Tendai Biti led a government delegation to Gaborone last Friday where the deal was reportedly sealed
Botswana has finally approved a long-promised credit line of 500 million pula, the equivalent of US$70 million dollars, to boost Zimbabwe’s struggling manufacturing sector.
Sources said Zimbabwean Finance Minister Tendai Biti led industrialists and government officials to Gaborone on Friday at which time the agreement was made final.
They said 70 percent of the funds will go towards manufacturing while 30 percent will go to other sectors of the economy. Economic recovery has been faltering for lack of [continue reading]