The loan facility is likely to boost agricultural production which is currently handicapped by a lack of technical expertise, funding and equipment.
The Chinese loan, which was signed by central bank Governor Gideon Gono and Chinese deputy Commerce Minister Gao Hucheng during a visit in Harare, will help finance a programme to buy new equipment for the nation’s desperate farmers.
The Chinese will supply some of the equipment.
President Mugabe, who attended the signing ceremony, hailed the Chinese for standing by his government, which has been shunned by Britain, the United States and other Western nations.
Post published in: News