Brazil grants Zim $100m agric loan

HARARE - Brazil has granted a $100 million loan to Zimbabwe out of $1,6 billion in lines of credit it is extending to Africa.

The funds — to be disbursed in tranches — are targeted at financing Zimbabwe’s agriculture development.

Marcia Maro Da Silva, the Brazilian ambassador to Zimbabwe, said she expected the first tranche of $38 million to be released in the next three months.

“The rest of the facility will be internalised in Zimbabwe within one and half years,” she said, adding that the facility was mainly targeted at empowering small scale farmers.

Brazil is the sixth largest economy in the world and is a world-leading agricultural producer — and exporter.

The South American country is endowed with natural as well as human resources, and has developed a strong farming sector built on scientific knowledge and business acumen. “Brazil’s agriculture has undergone a radical shift over the past few centuries. Policy reforms have encouraged the sector’s modernisation and eased its entry into global markets.

“Political and economic stability have added to rapid agricultural growth,” said Da Silva.

Economic experts say Zimbabwe’s agriculture sector — battling to recover from the upheavals brought by the government’s seizure of white-owned commercial farms in 2000 to resettle blacks — requires at least $5 billion kick start productivity.

More than half a million of Zimbabwe’s resettled farmers have been hamstrung by the lack of funding, resulting in the marked decline in output across all agricultural sub-sectors.

The country needs 1,8 million tonnes of the staple maize every year to meet the needs of its people and livestock but only 798 500 tonnes were produced during the 2012/13 agricultural season.

As a result, the country, once dubbed “the breadbasket of Africa” has to make up the deficit with imports and donour aid.

Da Silva added that Brazil would not financially support Zimbabwe’s projects under its ambitious economic blueprint, the Zimbabwe Agenda for Sustainable Socio-Economic Transformation (ZimAsset).

She said the southern African nation is too rich to beg for financial assistance.

“As a rule, Brazil does not give any support to sovereign nations and we don’t give out hand-outs either. Usually we find synergies and business opportunities where we can work with people on various projects,” she said.

“Zimbabwe is a rich country and does not need donations but investments.

ZimAsset offers opportunities for Brazil to come and invest in infrastructure and other sectors but there is need for clarity on the country’s economic policies,” added Da Silva.

This comes as the cash-strapped southern African country has been struggling to secure $27 billion to fund projects enunciated in ZimAsset, which is supposed to guide economic development programmes until December 2018.

Comments (8)

FOR SALE HP TONER CARTRIDGES 05A, 10A, 11A, 12A, 13A, 15A, 24A, 35A, 36A, 49A, 51A, 53A, 55A, 61A, 64A, 70A, 78A, 80A, 85A, 90A, AND MANYMORE 0772 678 311

ORIGINAL - 22 May 2014

For sure we need help but our leaders are stilling from the poor they purport to support.They pretend to be good tho not so.

WATYOKA T . S. - 22 May 2014

Aive madziva ava mazambuko. I can't believe Zimbabwe is now importing maize from Zambia and Malawi. Is Dr Made sleeping on the job. Don't blame sanctions or shortage of foreign currency again. Decline in Zim agriculture is men-made.

Mtwana - 22 May 2014

Irrigation Answered: • Irrigation Systems Design and Installations i.e. pumping plants (mobile & fixed) , network of pipelines (steel pipes, AC pipes, PVC pipes, polypipes, Aluminium pipes & G.I pipes) • Infield supplies i.e. sprinklers & Aluminium pipes and fittings • Water Tanks and tank stands • Boreholes (Monopumps- BH range, Submersible pumps ) • Supply and Maintenance of all Irrigation equipment • On & Off-site fabrications • FREE detailed Agronomic advice to suit your crop requirements! Call Cell ................................................ 0773 528 045 0715 415931

WERTHJITFCF - 23 May 2014

Hello My Brothers and Sister , I am Miss Koh Lian Fong from Singapore; i was in need of loan some month ago. i needed a loan to open my restaurant and bar, when one of my long time business partner introduce me to the this good and trustful loan lender Mr.ZHANG that help me out with a loan, and is interest rate is very low , thank God today. I am now a successful business woman, and I became useful. In the life of others, I now hold a restaurant and bar. And about 22 workers, thank GOD for my life I am leaving well today a happy mother with three kids, thanks to you MrZHANG . Now I can take care of my lovely family, i can now pay my bill. I am now the bread winner of my family. If you are look for a trustful and reliable loan leader. You can Email him via,(zhangloancompany@gmail.com)(zhangloancompany@yahoo.com). Pls tell him Miss Koh Lian Fong, form Singapore introduce you to him. THANKS

Miss Koh Lian Fong - 7 November 2014

Hello This is to inform you that Mrs. Christy Mark, a private loan lender has open financial opportunities to everyone. We have a clear and understandable terms and conditions under individuals, firms and companies giving loans with interest rate of 2%. Contact us today by e -mail: (chrismazzy99@gmail.com ) Come, let's put an end to your financial problem.

christy mark - 12 December 2015

End your financial worries End your financial worries now: I can smile that God-fearing man, who had secured € 176,000 and two of my colleagues have also received loans from this man, without any difficulty. I advise you not to choose the wrong person, you will definitely apply for a cash loan for your project and each other. I wrote this post, because Mr. Pendelis Wealth, made me feel blessed their loans. It's through a friend that I met this honest and generous God fearing man who helped me get this fund to pay for the loan of your life, you need financial help, you're stuck, do not have access to bank credit, or not in favor of the bank to finance your construction, real estate development, the development of your business your own business, you must have seen and earn money, bad credit or need money to pay bills or debts. Therefore, we recommend that you go there, please contact and meet with you for the services you ask for it. Contact address: sloves_walton@yahoo.com End your financial worries

MR SLOVES - 18 February 2016

Do you need a comfortable loan to your satisfaction? We are based in USA, We offer affordable loan at 3% interest rate available for local and international borrowers . We are certified , trustworthy , reliable , efficient , fast and dynamic and co - operate. we give out long term loan from two to fifty years maximum. contact us at: johnpotto4@gmail.com

Mr john potto - 16 March 2016

Post a comment

Readers are kindly requested to refrain from using abusive, vulgar, racist, tribalistic, sexist, discriminatory and hurtful language when posting their comments on the Daily News website.
Those who transgress this civilised etiquette will be barred from contributing to our online discussions.
- Editor

Your email address will not be shared.