Zimbabwe may lose out on Chinese funds

Published: 30 November 2018
China, a comprehensive strategic partner of Zimbabwe, feels its debt stricken ally has moved slowly towards seizing funding opportunities Beijing pledged at this year's Forum for China-Africa Co-operation (FOCAC) amounting to $60 billion to support new co-operation with Africa.

Chinese Acting Ambassador to Zimbabwe Zhao Baogang told Business Weekly in an interview that Harare had not done enough to bring forward a list of feasible and bankable projects to be considered for support under the $60 billion facility pledged by China at the FOCAC 2018 in Beijing.

Zimbabwe, whose economy remains fragile after years of downslide and battering from debilitating western sanctions, needs over $16 billion to revamp key infrastructure such as roads, rail system, airports and energy infrastructure, according to the African Development Bank.
- Business Weekly
Tags: Zimbabwe,

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