WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2010-09-08 Time: 16:00:01 Posted By: News Poster
Harare – Zimbabwe is close to sealing the US$70 million (P500 million) line of credit facility with Botswana amid revelations that most issues were agreed on last week.
This follows a visit to Botswana by a delegation led by Finance Minister Tendai Biti, which included officials from the Confederation of Zimbabwe Industries.
Although Minister Biti was not available for comment yesterday he confirmed on Tuesday the meeting in Botswana had been successful but would not give more information saying a detailed report would be released some time this week. The loan facility is meant to revive local industry.
Sources who attended the meeting held in Botswana to further discuss the facility said the only remaining issue before the loan is released was the Bilateral Investment Protection and Promotion Agreement between the two states.
The two countries are engaged in discussions for a BIPPA, which would govern investment deals between the two neighbouring countries. A similar agreement on investment also exists between Zimbabwe and South Africa. “The meeting held between the two countries in Botswana was very successful. However, a follow up meeting would be held in Harare in four weeks,” said a source that spoke to Herald Business on condition that he was not named.
Said another source: “The loan facility is yet to be finalised but we have made substantial progress to develop the issue further. We are waiting another meeting in four weeks to sign the agreement, but a number of issues have been agreed on. The major issue still remaining is the BIPPA.”
Sources said issues such as the applicable interest rates due to Botswana, interest rates at which the loan would be extended to local companies by financial institutions had all been agreed but what remained to be finalised was the BIPPA.
Finalisation of the US$70 million facility was delayed by a brief diplomatic stand off between the two countries ignited by three rangers arrested in Zimbabwe after violating national boundaries demarcating the two countries.
Zimbabwe desperately needs every dollar available in lines of credit to revive an industrial decimated by a decade of economic instability and little investment. The country is pursuing about US$1 billion in external lines of credit from the Afreximbank, PTA Bank, African Development Bank, Botswana and South Africa.
This comes amid revelations by Minister Biti that since January the country had received just over US$100 million in foreign direct investment.
The country requires US$8 billion to rebuild its gross domestic product, the sum value of goods and services produced locally in a year, back to the 1996 peak of US$9 billion, but halved by a decade of economic meltdown. Government is struggling to raise meaningful revenue to finance domestic investment and this was evidenced by its US$2,2 billion national budget last year.
Original Source: 
Published by the government of Zimbabwe
Original date published: 8 September 2010
Source: http://allafrica.com/stories/201009080408.html?viewall=1