Zimbabwe Seeks US$500 Million Credit Lines In Switzerland

Finance and Economic Development Minister Mthuli Ncube is set to negotiate for US$500 million in credit lines with three unnamed private financiers at the ongoing World Economic Forum in Davos, Switzerland.

In an interview with Bloomberg in Davos yesterday, Ncube said if accessed, the loans would be used to address the prevailing fuel situation in Zimbabwe. Said Ncube:

While I’m here, I’m hoping to approach three private credit providers who are very keen to work with us especially giving us fuel and giving us credit lines up to the tune of US$500 million.

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