Govt applauds India financial package

By Janet Munyaka

Government has applauded the financial assistance availed by India to Zimbabwe on concessional terms, saying it has boosted the country’s efforts to address socio-economic challenges.

The 15th edition of the Confederation of Indian Industries and Exim Bank Conclave on India – Africa project partnership is being held virtually because of the COVID-19 pandemic which has impacted the world.

Vice President, Retired General Dr Constantino Chiwenga delivered his speech this Thursday commending the Indian government for availing grants worth 10 billion United dollars to Africa for various developmental projects.

“Zimbabwe appreciates the unflinching support extended by the government of India to African countries in general and Zimbabwe in particular through the Africa India summit. Zim is equally grateful for the various financial envelopes availed on concessional terms that have impacted positively on our concerted efforts to address the socio-economic challenges we have faced as a nation.”

The Vice President called on Indian companies to consider investing in Zimbabwe and take advantage of the pro-business reform agenda ushered in by the second republic.

More than 500 project opportunities from multiple companies across sectors are being discussed during this year’s edition of the Conclave.

The focus areas identified include agriculture, power and energy, infrastructure and healthcare, among others.

Other speakers during the virtual meeting who included the Dean of African diplomats in India, the Ambassador of Eritrea spoke on how the COVID-19 pandemic has impacted their economies.

India and Zimbabwe enjoy cordial relations and the two countries signed a Joint Commission Agreement in 1987.

The Asian country has a strong presence in the pharmaceutical sector and an Indian beverage manufacturing company has set up a bottling plant worth 30 million United States dollars in the country.

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