Botswana to help Zim industry

HARARE - Botswana is considering a R622million credit line to help revive struggling Zimbabwe industries, a senior Zimbabwe official said yesterday.

HARARE - Botswana is considering a R622million credit line to help revive struggling Zimbabwe industries, a senior Zimbabwe official said yesterday.

A Botswana delegation, led by the secretary for economic and financial policy Taufila Nyamadzabo, met Zimbabwe's finance minister Tendai Biti in Harare to discuss details of the financial package.

A senior Zimbabwe official said: "Botswana is proposing to provide credit support for some industries, all that is left is to tie up the agreement."

Botswana was one of the fiercest critics of President Robert Mugabe but has softened its line since the formation of a unity government that includes the opposition Movement for Democratic Change.

Nyamadzabo said his government would provide the money, subject to certain conditions.

"We're looking at providing some credit lines for Zimbabwe, especially for industries where there could be mutual benefit, such as the steel, leather, pharmaceutical, agro-industries and manufacturing sectors," Nyamadzabo said.

Zimbabwe's unity government has said it needs about R73billion to fix the economy.

Regional leaders last month agreed to make proposals on how to help Zimbabwe. - Reuters

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