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*African Development Bank Pledges US$50m Loan For Private Sector*

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The African Development Bank (AfDB) has said that it can loan private companies in Zimbabwe a maximum of US$50 million this year. It stressed that the loans were only available for the private sector as it is still negotiating with the government over the US$600 million the government owes.

In an interview with The Zimbabwe independent, AfDB country manager Damoni Kitabire,

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> We are not giving loans to the public sector; we are giving loans to the private sector. We are now trying to see where else we can intervene.

> We are now scanning the (investment) environment now and we are looking at doing another US$25 million to US$50 million before the year ends, depending on whether we can find a viable project. The maximum we can commit this year is US$50 million.

The United Kingdom has also committed loans worth $100 million to the private sector.

More: The Zimbabwe Independent

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