India To Extend US$100 million Lines of Credit To Zimbabwe

[Adnan Faruqi]

India To Extend US$100 million Lines of Credit To Zimbabwe

Harare, January 11, 2012 - India on Tuesday said it will give Zimbabwe US$100 million in lines of credit to help the country revive its ailing health sector.

“India would assist Zimbabwe in reducing its infrastructural deficit,” India’s minister of Commerce Anand Sharma said after meeting Finance minister Tendai Biti.

Sharma said the facility would help Indian companies to undertake infrastructure projects in Zimbabwe.

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

But Sharma expressed concern over Zimbabwe’s controversial empowerment laws saying they could scare away potential Indian investors.

He also urged the country to simplifying the issuing of visas to businesspeople especially those from India.

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

The minister said his country was planning to open a rural technology part and a food testing laboratory in Zimbabwe.

RadioVop Zimbabwe - India To Extend US$100 million Lines of Credit To Zimbabwe

 

[T90TankGuy]

i guess its a competition between china and us in matters of influence over the future of African economy and development .

 

[Yeti]

Give me some diamonds now

 

[Adnan Faruqi]

Give me some diamonds now

Indian traders have made a cartel to purchase diamonds in bulks.

Indian have fund of billions of dollars for it.

In 2010 alone India have imported US $7.5 billion of rough diamonds.

Recently their minister was in Gujarat for the deal:

 

[T90TankGuy]

love the way he holds those diamonds as if they were kankad . wouldn't mind a handful too