Published: 26 September 2013

CBZ Bank Limited has secured a $100 million medium term line of credit from the African Export and Import Bank to support agriculture and related infrastructure projects in the sector for the 2013/4 farming season.

The funding, which augments resources government is mobilising to support farmerscomes as a relief to farmers who were neglected by the inclusive government.

Speaking on arrival from the Afreximbank headquarters in Cairo, Egypt, on Tuesday, CBZ Holdings group chief executive John Mangudya said the funds will also improve the economy, which has been facing liquidity challenges over the past 7 months.

Mangudya could not be drawn into disclosing the cost of the funds to farmers, but said loans to farmers would be at affordable interest rates.

- herald

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