Zimbabwe to borrow $218m from China for the renovation of Robert Mugabe Int’l Airport

Zimbabwe today signed a bilateral agreement with the government of China with terms to borrow, in part, $153 million with the purpose, among others, to renovate Robert Mugabe International Airport.

TheNewsGuru reports the Zimbabwe-China loan will also cater for 2 other projects: the construction of a new Parliament Building that will accommodate 650 legislators and the expansion of High Computer Performance Centre at University Zimbabwe.

The country will also as part of the agreement receive a $65 million grant on economic and technical cooperation.

Signing the agreement, Chinese Ambassador Huang Ping said more deals with the Zimbabwean government would be propping up soon.

The Zimbabwe-China loan accrues 2% per annum with a 20 years grace period.