Published: 17 March 2014

The European Investment Bank has pledged to open credit lines to Zimbabwe provided the government resolve its $300 mlillion debt overhang.

Zimbabwe has foreign debt arrears of $6 billion, with over $300 million being owed to the EIB.

A high level EIB mission is expected in the country next month to explore strategies to bridge the current gap between the EU and Zimbabwe.

EU Ambassador to Zimbabwe Aldo Dell' Ariccia said the country's debt overhang is restricting its access to new funding options existing in  multilateral banks such as International Monetary Fund (IMF), and the World Bank.
- dailynews

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