EU's powerhouse Germany 'to open lines of credit for Zim' – report
European Union’s power house, Germany, has reportedly said that it would open lines of credit to Zimbabwe nearly 20 years after the regional bloc imposed sanctions on the southern African country.
According to the state-owned Herald newspaper, the commitment was made by Germany’s economic co-operation ninister Dr Gerd Muller who met with President Emmerson Mnangagwa in Harare this week.
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As part of formalising relations, the two countries agreed to form a joint permanent commission to explore various fields of co-operation.
Speaking after his meeting with Muller, Mnangagwa said the southern African country’s business people should be prepared, as the Germans were bringing in business.
"They are going to open relations and lines of credit with us, so it is important for our people to take advantage of these opportunities that are coming," Mnangagwa was cited as saying.
According to NewsDay, Müller and Zimbabwe's finance minister Patrick Chinamasa addressed a joint conference in Harare on the envisaged joint commission between the two countries.
"Germany and Europe have great interest on stability and peace in this country that is why we are building on the implementation of reforms and we will support the government of Zimbabwe especially to implement measures that will improve the situation for people in rural areas that will benefit agriculture," Muller said as quoted by NewsDay.
Germany used to be Zimbabwe's major line of credit before the country was hit by imposed sanctions, said Chinamasa.
The imposition of sanctions by the EU reportedly led to the downturn of relations between the two countries when Germany sided with Britain on the dispute of land reforms in Zimbabwe.
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