News / National
Zimbabwe, UK to renew economic ties
03 Mar 2015 at 16:15hrs | Views
Britain is renewing economic developmental aid to Zimbabwe with a top government official from the western European nation expected to meet treasury authorities on Wednesday to conclude a proposed financial help deal.
In a sign of confidence towards government's efforts in reviving key productive sectors, the British Permanent Secretary in the Department for International Development (DFID) Mr Mark Lowcock will hold a meeting with the Minister of Finance and Economic Development Cde Patrick Chinamasa this Wednesday over a possible developmental aid arrangement.
The visit by Mr Lowcock is also expected to strengthen bilateral economic and trade ties between the two countries as the talks will also focus on measures to improve technical and capital expertise.
In terms of the arrangement, the government is anticipating Britain to provide financial help in the form of credit lines.
The proposed developmental aid to Zimbabwe will be finalised after a 19-member British investment delegation visited Zimbabwe last month where they expressed their willingness to set up projects in strategic industries.
London's renewed interest on Zimbabwe, its former colony, comes on the back of increased interests in local business opportunities by the Chinese and Russians who have so far concluded deals worth billions of dollars in energy, telecommunications and the mining sectors.
In a sign of confidence towards government's efforts in reviving key productive sectors, the British Permanent Secretary in the Department for International Development (DFID) Mr Mark Lowcock will hold a meeting with the Minister of Finance and Economic Development Cde Patrick Chinamasa this Wednesday over a possible developmental aid arrangement.
The visit by Mr Lowcock is also expected to strengthen bilateral economic and trade ties between the two countries as the talks will also focus on measures to improve technical and capital expertise.
In terms of the arrangement, the government is anticipating Britain to provide financial help in the form of credit lines.
The proposed developmental aid to Zimbabwe will be finalised after a 19-member British investment delegation visited Zimbabwe last month where they expressed their willingness to set up projects in strategic industries.
London's renewed interest on Zimbabwe, its former colony, comes on the back of increased interests in local business opportunities by the Chinese and Russians who have so far concluded deals worth billions of dollars in energy, telecommunications and the mining sectors.
Source - zbc
