News / National
Comesa avails $550m to support regional agriculture
24 Oct 2013 at 14:05hrs | Views
COMESA Secretary General, Dr Sindiso Ngwenya says the regional grouping has set aside $550 million to support member states with inputs and mechanisation for the current summer agricultural season.
Dr Ngwenya announced this when he held talks with President Robert Mugabe at State House in Harare on Thursday afternoon.
During the meeting that lasted over two hours, Dr Ngwenya emphasised the importance of the agricultural sector for economies in the region in ensuring food security and industrialisation for the creation of jobs as well as feeding downstream industries.
He revealed that under this COMESA Agricultural Programme, Zimbabwe will get 2000 tractors and other agricultural machinery equipment, adding that without mechanisation, there is no meaningful production.
On industrialisation, Dr Ngwenya said the region can not continue to export natural resources in their raw state without value addition.
The meeting also discussed the need for infrastructure development where an infrastructure fund managed by the PTA Bank has already been set up to support such projects.
A proposal has also been made to establish infrastructure bonds to raise funds for such projects as has already been done in Ethiopia and Eritrea.
Rwanda and Kenya are also following suit with a proposal to the tune of $1,5 billion to invest in infrastructure development.
Dr Ngwenya cited projects such as the establishment of high-speed trains running from the DRC and other member states.
This year's COMESA Summit will be held in the DRC from the 14th to the 15th of December and President Joseph Kabila will take over the chairmanship from Ugandan President Yoweri Museveni.
Dr Ngwenya announced this when he held talks with President Robert Mugabe at State House in Harare on Thursday afternoon.
During the meeting that lasted over two hours, Dr Ngwenya emphasised the importance of the agricultural sector for economies in the region in ensuring food security and industrialisation for the creation of jobs as well as feeding downstream industries.
He revealed that under this COMESA Agricultural Programme, Zimbabwe will get 2000 tractors and other agricultural machinery equipment, adding that without mechanisation, there is no meaningful production.
On industrialisation, Dr Ngwenya said the region can not continue to export natural resources in their raw state without value addition.
A proposal has also been made to establish infrastructure bonds to raise funds for such projects as has already been done in Ethiopia and Eritrea.
Rwanda and Kenya are also following suit with a proposal to the tune of $1,5 billion to invest in infrastructure development.
Dr Ngwenya cited projects such as the establishment of high-speed trains running from the DRC and other member states.
This year's COMESA Summit will be held in the DRC from the 14th to the 15th of December and President Joseph Kabila will take over the chairmanship from Ugandan President Yoweri Museveni.
Source - zbc
