adminUS$300m agric facility unveiled
Obert Chifamba Senior Agriculture Reporter
ZIMBABWE has secured a US$300 million loan facility from Brazil to support farmers under the More Food for Africa programme.
Speaking after meeting in Harare yesterday, Agriculture, Mechanisation and Irrigation Development Minister Joseph Made said the money will boost agricultural production and enhance food security.
The costs of the money and repayment period were not disclosed.
However, Zimbabwe is the first beneficiary of the Brazilian aid scheme for Africa.
Said Minister Made: “The More Food for Africa programme is important for the country as it has managed to address some of the challenges we have been facing in securing lines of credit to support the agriculture sector that incidentally is the backbone of the economy.”
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