A new finance package has been agreed for a road project in Zimbabwe – image courtesy of © Steve Allen, Dreamstime.com
A new loan has been arranged for a road upgrade project in Zimbabwe. The road from Plumtree to Mutare was originally planned to be rebuilt in 2011.
However, there were issues with regard to the financing for the project. This has put financial pressure on the Zimbabwe Government. The new financing arrangement is being provided by the Development Bank of Southern Africa (DBSA). This provides restructuring for the US$206 million loan for the Zimbabwe National Road Administration (Zinara).