(HERALD) Zimbabwe to acquire farming equipment from Brazil
Zimbabwe to acquire farming equipment from BrazilTuesday, 23 August 2011 02:00
Martin Kadzere Business Reporter
ZIMBABWE is set to acquire irrigation equipment and various farm machinery from Brazil worth nearly US$100 million under the Food for Africa Programme, to boost the country's agricultural sector
This was revealed by Tourism and Hospitality Minister Walter Mzembi and Economic Planning and Investment Promotion Minister Tapiwa Mashakada, who were part of the delegation that was in Brazil last week to appraise investors on Zimbabwe's investment opportunities.
Minister Mzembi was the head of delegation, which comprised representatives from various public and private business institutions.
The Food for Africa programme deals with lines of credit, increase in food production and facilitation of farm machinery and equipment.
"We will have a US$98 million line of credit coming from the Brazilians and this shows the strong bilateral relations between the two countries," said Minister Mzembi. Minister Mashakada also confirmed the facility.
BRAZIL AND ZIMBABWE
* Brazil considers investing in Zimbabwe
A source close to the deal said Brazil would supply Zimbabwe with farm equipment, which include tractors, combine harvesters and irrigation equipment worth US$98 million. The farm equipment will be earmarked for both small scale and commercial farmers. Both countries are now finalising the repayment period and rate of interest.
Agriculture, Mechanisation and Irrigation Development Minister Dr Joseph Made and secretary Mr Ngoni Masoka were reluctant to comment.
While the Zimbabwe delegation was in Brazil, its international advisor in the Ministry of Agrarian Development Mr Francesco Pierri was in the country and pledged to support the country's land reform.
Mr Pierri, who was leading the Brazilian delegation to Zimbabwe, had visited the country as a follow up to their first visit two months ago.
"We visited several schemes and agricultural projects and we have seen the achievement of land reform programme.
"We are pleased to work with Zimbabwe as a partner from whom we have a lot to learn," said Mr Pierri.
Labels: AGRICULTURE, LAND REFORM, MECHANISATION, TRACTORISATION, WALTER MZEMBI
posted by MrK @ 2:30 PM
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