BizDay Zimbabwe
BizDay Zimbabwe

Zimbabwe's leading authority on business, finance and investment news.

BizDay
Author

0

Share


avrt
BizDay Zimbabwe

SA extends $100 m loan to Zim: Biti

BizDayBizDay

Harare, April 15, 2013 – Finance Minister Tendai Biti said on Monday the South African government has approved a $100m (to Zimbabwe.

This follows Zimbabwe’s approach to South Africa and Angola for a $150m loan.

“Pursuant to discussions in September 2012, I’m aware the South African Cabinet has made a decision — and it’s a positive decision,” Biti told reporters.”It is self-evident that the treasury has no capacity to fund elections. We’re not going to borrow again for the elections.”

Zimbabwe requires $132m to hold elections. Biti said last month Zimbabwe cannot raise this money on its own and need foreign aid. Zimbabwe raised $40 m from local businesses to hold the national referendum on March 16.

In an update last week, the United Nations said in a statement that Zimbabwe had made an official request to the UN for assistance in mobilising resources for the upcoming harmonised elections.

“As per the UN guidelines on electoral support, the request was transmitted to the UN Focal Point for Electoral Assistance at UN Headquarters. In accordance with standard policy, the UN Focal Point reviewed the request and advised the Government of Zimbabwe that a UN Needs Assessment Mission would need to be dispatched,” it said.

The UN indicated that a UN Focal Point forwarded the regular terms of reference of the proposed needs assessment mission to the Government of Zimbabwe.

“Following additional consultations, the government wrote to the UN indicating its willingness to receive the needs assessment mission.  As of now, the mission has not yet arrived in country as we are still working with the authorities to finalize some details of the visit.

A needs assessment mission is a required first step in responding to a request from a member state for electoral support submitted to the UN. Once a needs assessment mission is conducted, the findings of the assessment are submitted to the UN Focal Point at Headquarters.  Based on the findings of the assessment, the Focal Point will determine the level of support the UN may provide and, as appropriate, recommend that UNDP prepare an electoral assistance project.

BizDay
Author

BizDay

0

Comments