Business / Local
Dubai firm target Bulawayo for funding
12 May 2015 at 08:45hrs | Views
A DUBAI off-shore lending company - Elbygare Global has offered short and long term finance for Bulawayo City Council's infrastructure projects at a time the local authority is struggling to access affordable loans.
According to the latest report by the council's finance and development committee, Elbygare made the unsolicited offer in April.
It proposed to finance the upgrading of roads, energy, water and sewerage reticulation projects.
"The Financial Director reported (21st April, 2015) that Elbygare Global (Pvt) Ltd was a company incorporated in Dubai as an off-shore lending company' reads part of the minutes.
The committee quoted the letter saying Elbygare was proposing to fund 'land development up to housing solutions, roads upgrade and maintenance, water and sewerage reticulation projects, energy development solutions and income generating projects.'
"We believe that Council has unlimited needs and we want to be part of the financial solution," part of Elbygare proposal reads.
"Our finance models are project specific hence we offer both short and long term finance (+5 years tenure) and our costs through project specific will also be comparable to multi-lateral institutions rates."
According to the latest report by the council's finance and development committee, Elbygare made the unsolicited offer in April.
It proposed to finance the upgrading of roads, energy, water and sewerage reticulation projects.
"The Financial Director reported (21st April, 2015) that Elbygare Global (Pvt) Ltd was a company incorporated in Dubai as an off-shore lending company' reads part of the minutes.
The committee quoted the letter saying Elbygare was proposing to fund 'land development up to housing solutions, roads upgrade and maintenance, water and sewerage reticulation projects, energy development solutions and income generating projects.'
"We believe that Council has unlimited needs and we want to be part of the financial solution," part of Elbygare proposal reads.
"Our finance models are project specific hence we offer both short and long term finance (+5 years tenure) and our costs through project specific will also be comparable to multi-lateral institutions rates."
Source - Byo24News
