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Africa Moyo, Harare Bureau
GOVERNMENT has disbursed $10 million into the Emergency Business Relief Fund established to help companies that were looted and destroyed by violent MDC Alliance rag-tags in January this year.
Already, over $4,9 million has been released to allow victims of the attacks to restock to resume operations, making good on President Mnangagwa’s Government’s promise to come to the rescue of business operators who were ruined by the violent protests.
This was said by Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa yesterday during a post Cabinet press briefing.
She said Cabinet received an update report from Industry and Commerce Minister Nqobizitha Mangaliso Ndlovu on the disbursement of the Emergency Business Relief Fund for businesses affected by the 14-16 January violent demonstrations.
“So far, a tranche of $10 million out of the $30 million earmarked for the programme has been disbursed into the loan fund account,” said Minister Mutsvangwa.
“The total value of stocks looted, and damages to property and equipment belonging to the affected businesses is $24 494 771.
“A total of $4 964 133 has already been disbursed to replenish the stocks. Currently, the affected provinces are processing requests for equipment and infrastructure, with the disbursements expected to start this week.”
The criteria used to disburse the loans to affected beneficiaries includes, among other things, that cash payments are made directly to suppliers of products, wholesalers or producers; with draw-downs accompanied by invoices or receipts.
Further, the affected businesses would also submit lists of their major suppliers.
The violent demonstrations mainly affected Bulawayo industries, with a huge number of the businesses either looted or destroyed or both.
Meanwhile, Minister Mutsvangwa said she reported to Cabinet on the Chinese global development strategy famously known as the Belt and Road Initiative (BRI). The BRI is centred on the development of road, rail and seaport links to facilitate trade and economic development.
Minister Mutsvangwa said the initiative will “benefit Zimbabwe’s thrust to become an Upper Middle Income country as encapsulated under Vision 2030”.
“As a way forward, the Office of the President and Cabinet is setting up a dedicated team that will work with neighbouring countries involved in the Belt and Road Initiative, to ensure that Zimbabwe derives maximum benefit from the initiative,” she said.
The BRI is an ambitious effort adopted by the Chinese government to improve regional cooperation and connectivity on a trans-continental scale.
The initiative involves infrastructure development and investments in 152 countries and international organisations in Asia, Europe, Africa, the Middle East, and the Americas.
It was first proposed by Chinese President Xi Jinping in 2013 and the planned completion date is 2049.
Online Reporter