Government to restore Zimbabwe’s former glory

By Tracy Mazhura

Harare-Government says it would be availing US$30million to fund the horticulture industry and grow the country`s export receipts.

The money which is being sourced from the IMF SDR grant will be a revolving fund to farmers.

Addressing post-cabinet information minister Monica Mutsvangwa said currently the horticulture industry was contributing more than $70 million and creating 18 000 jobs.

“Horticulture is one of the key sub-sectors of the agricultural sector in the country with a substantial potential of success across all agricultural ecological regions “, said Mutsvangwa

Up to the year, 2002 Zimbabwe was among the world’s top 3 producers of horticulture products exporting more than US $130 million per annum, since then the numbers have been fluctuating.

The government said it has taken the initiative to establish the horticulture Revolving fund with an aim of growing the sector.

“The Export Revolving Fund will address the fundamental challenge of unavailability and lack of access to appropriately structured financing for short to long term expenditures “, said Mutsvangwa.

The Export Revenue Fund Facility will be accessed through the normal banking procedures with applicants or beneficiaries submitting their applications to participating banks with the requisite information.

‘’the government and the participating banks will monitor and evaluate the use of resources advanced to the borrowers”.

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