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*Zim Could Sink Deeper Into Debt After Botswana Bailout Packages*

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The government of Botswana has extended a US$ 500 million dollar package to Zimbabwe that is backed by Chiadzwa diamonds.

A further one billion pula bailout package has been earmarked for the private sector.

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The deals were revealed by Foreign Affairs and International Trade ministry secretary Joe Manzou during the inaugural session of the Zimbabwe-Botswana Bi-National Commission in Harare on Monday. Said Manzou:

> Zimbabwe is also appreciative of the US$500 million diamond-backed facilities offered by Botswana. I also urge this meeting of officials to work in earnest to ensure that all outstanding issues relating to this facility are finalised.

> … I wish to extend my gratitude to the support extended to Zimbabwe, by Botswana, as our country embarks on a development trajectory under the new dispensation … Zimbabwe welcomes with much appreciation that Botswana proposed a P1 billion credit line facility in support of the Zimbabwe private sector.

*More: Newsday*

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