Zimbabwe to benefit from $2 billion solar facility

Zimbabwe stands to benefit from a US$2 billion solar financing arrangement availed by the Government of India to several African countries, The Herald learnt last night.

Vice President General Constantino Chiwenga (Retired) yesterday met India's President Mr Ram Nath Kovind as part of discussions on how Zimbabwe can benefit from the solar financing agreement.

The country's Ambassador to India, Maxwell Ranga, told The Herald that the two discussed a wide range of topics including an International Solar Alliance framework, which Zimbabwe is expected to sign before it can benefit from the $2 billion.

Zimbabwe will sign the International Solar Alliance agreement for it to tap into the pool of funds to finance its solar projects.

Ambassador Ranga said the Vice President also met members of the Confederation of India Industries who were impressed by Zimbabwe's new investment policies.

President Mnangagwa has repeatedly said Zimbabwe is open for business and pushed for the amendment of regulations to improve the ease of doing business.

Ranga said discussions covered agriculture, mining, power, healthy and pharmaceuticals. He said several Indian business people were expected in Zimbabwe next week to explore investment opportunities.

VP Chiwenga also reportedly held discussions with a private company that promised to come to Zimbabwe to explore possible partnerships with local companies for the manufacture and sale of anti-cancer drugs in the country..