India to offer Zimbabwe $100m credit

This article was written by Our reporter on 10 January, at 17 : 34 PM

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Indian Prime Minister Manmohan Singh speaks to African leaders during the first India-Africa Forum Summit in April 2008

India has mooted a $100 million line of credit (LoC) for improving health infrastructure in Zimbabwe, saying that Indian public sector undertakings (PSUs) would assist in reducing the infrastructural deficit and contribute to the African nation’s economic development.

“India would assist Zimbabwe in reducing its infrastructural deficit. Indian PSUs like IRCON, RITES and WAPCOS which had earlier also executed infrastructure projects in Zimbabwe could participate in executing fresh projects,” said Indian Commerce Minister Anand Sharma in a meeting with Zimbabwean Finance Minister Tendai Biti at Harare Monday, an official release said here Tuesday.

“A team from India would be visiting Harare next week to discuss the proposal for LOC of $100 million for strengthening of health infrastructure,” Sharma added.

The two ministers also agreed to speed up the execution of the Pan-African e-Network project.Sharma also expressed concern over Zimbabwe’s Indigenization and Economic Empowerment Act, as it could deter further investments by Indian companies in Zimbabwe and also urged on the need for simplifying the process for issue of business visas to Indian businessmen.

“It was suggested that a one-year multiple entry visa could be issued to encourage potential Indian investors visiting Zimbabwe,” the statement said, citing Sharma.

Sharma also said that Indo-Zimbabwe ties would get further strengthened through the setting up of a rural technology park and a food testing laboratory in Zimbabwe by India.This was one of the commitments made by India during the India-Africa Forum Summit held at Addis Ababa in May 2011.

Indian Times

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HAWK MANN, 3 months ago Reply

In his book MONSOON, the ex Pentagon writer Robert D Kaplan explains that India currently has the biggest and best navy in the Indian Ocean. Why do you think they moving from the Middle East
to their tiny little island in Diego, below the Maldives? they cosying up to the Indian govt as fast as
possible because its right between China and Iran who are buddies. read the book and learn!
It is an amazing book and I salute ROBERT D KAPLAN.

At first glance I was unimpressed but now
I think he is a guru and if you read his book on the politics of the Indian Ocean you too will become a well-informed disciple.

If you are African at all, you need to know what happened after Vasco da Gama landed on our shores and how vital Africa is to the world because of its position between East and West.
Treat yourself. A used copy from amazon is about £7… doubt it will be readily available from
your local library.
HAWK MANN, 4 months ago Reply

First in the queue for medical help will undoubtedly be Cameron and Obama when they read this press release and realise that there are real people out there with real hearts who are not intent on kicking down the man, woman and child in the street with their old tattered army boots from Iraq which they no longer have any use for!
Thank you India. Shookria and thank you so much.