News / National
India announces $300m line of credit to Zimbabwe
04 Nov 2018 at 19:31hrs | Views
Indian Vice President, Mr Venkaiah Naidu has left the country after a successful visit which saw him announcing a US$310 million line of credit for the upgrading of Hwange Thermal Power Station and an additional US$23 million for the rehabilitation of the Bulawayo Thermal Power plant, among other projects.
Vice President Naidu started his three-nation visit in Botswana before coming to Zimbabwe and has left for Malawi on the last leg of his visit to Africa.
During his three day state visit to Zimbabwe, he held separate meetings with the President Emmerson Mnangagwa and Vice President Kembo Mohadi.
Iin a joint statement issued this Sunday, the Indian Vice President announced a US$310 million line of credit for the upgrading of the Hwange Thermal Power Station, an additional US$23million line of credit for the rehabilitation of the Bulawayo Thermal Power plant and another US$19,5 million line of credit for Deka pumping and river water intake system.
Mr Naidu also announced a grant for the construction of Mahatma Gandhi Convention Centre and a US$2,93 million grant for the upgrading of the Indo-Zimbabwe Technology Centre.
He also pledged 10 ambulances to the government of Zimbabwe and a variety of medicines while the Indian health sector will second experts in various specialties to Zimbabwe.
On Saturday, the two countries signed six memoranda of understanding (MOUs) and action plans in health, mining, media, sport and ICT sectors that are expected to expedite the country's socio-economic transformation.
On the multilateral front, the two leaders agreed on the need for an urgent reform of the UN Security Council and condemned terrorism in all its forms and manifestation.
India is Zimbabwe's third biggest source market for raw materials, tying in with Australia and Zambia, according to a report by the Confederation of Zimbabwe Industries (CZI).
The Indian Vice President was seen off at the Robert Mugabe International Airport by his Zimbabwean counterpart Vice President Mohadi, acting Foreign Affairs Minister Cain Mathema, several senior government officials and Indian embassy staff.
Vice President Naidu started his three-nation visit in Botswana before coming to Zimbabwe and has left for Malawi on the last leg of his visit to Africa.
During his three day state visit to Zimbabwe, he held separate meetings with the President Emmerson Mnangagwa and Vice President Kembo Mohadi.
Iin a joint statement issued this Sunday, the Indian Vice President announced a US$310 million line of credit for the upgrading of the Hwange Thermal Power Station, an additional US$23million line of credit for the rehabilitation of the Bulawayo Thermal Power plant and another US$19,5 million line of credit for Deka pumping and river water intake system.
Mr Naidu also announced a grant for the construction of Mahatma Gandhi Convention Centre and a US$2,93 million grant for the upgrading of the Indo-Zimbabwe Technology Centre.
He also pledged 10 ambulances to the government of Zimbabwe and a variety of medicines while the Indian health sector will second experts in various specialties to Zimbabwe.
On Saturday, the two countries signed six memoranda of understanding (MOUs) and action plans in health, mining, media, sport and ICT sectors that are expected to expedite the country's socio-economic transformation.
On the multilateral front, the two leaders agreed on the need for an urgent reform of the UN Security Council and condemned terrorism in all its forms and manifestation.
India is Zimbabwe's third biggest source market for raw materials, tying in with Australia and Zambia, according to a report by the Confederation of Zimbabwe Industries (CZI).
The Indian Vice President was seen off at the Robert Mugabe International Airport by his Zimbabwean counterpart Vice President Mohadi, acting Foreign Affairs Minister Cain Mathema, several senior government officials and Indian embassy staff.
Source - zbc
