Harare – Botswana has extended a 1 billion pula loan facility to Zimbabwe as the country seeks to help Zimbabwe in solving its financial crisis.
Botswana and Zimbabwe also signed a six Memoranda of Understanding.
Addressing delegates at the Zimbabwe Botswana Bi-National Commission, Botswana President Mokgwetsi Masisi said Botswana increased the loan from 500 million pula to $1 billion .
“We agreed to a loan current facility we increased it from 500 milllion to to 1 billion pula and the details which will be sorted out later on.
“Today’s meeting is just the beginning of a strong and long journey which is ahead of us, more work still needs to be done especially to rope in our private sector and ordinary citizens to play a meaningful role in our efforts to further strengthen our bilateral relations,” President Masisi said.
President Masisi said the two countries’ success in implementing the commitments they made today will go a long way in ensuring a conducive environment for their people.
“There is no doubt that our success in implementing the commitments we made today will go a long way in ensuring a conducive environment for our people and businesses to increase their interaction.
“Reflecting on some of the commitments we made during this session I am pleased to know that the signing of the extradition treaty will ensure and facilitate the serving of justice for our people and will also assists in fighting cross boarder crime,” he said.
President Masisi said the port of Techobanine project will unlock the economic potential of three countries and also contribute towards greater regional integration.
“Our commitments such as the port of Techobanine project which will result in the establishment of an international trade route linking Botswana and Zimbabwe to the eastern markets through Mozambique need to be fast tracked.
“This project will unlock the economic potential of three countries and also contribute towards greater regional integration.
“It is therefore crucial that we develop proper programmes that will ensure implementation of these commitments and in this regard I wish to urge our senior officials to take advantage of the existing mechanisms such as the mid-term review to monitor and evaluate progress of the implementation of all the decisions we made in this National Commission.
The success of or Bi-national Cooperation is in no doubt important not only for this integration agenda but also for the realisation of the continental agenda,” he said.
Speaking at the same occasion President Emmerson Mnangagwa said since the two countries’ last meeting of the Joint Permanent commission on cooperation in 2018, there has been various measures to give impetus to the implementation of agreements.
“I am pleased that at this inaugural session we witnessed the signing of six agreements or MOUs.
“I am pleased to note that since the last meeting of the Joint Permanent commission on cooperation in 2018, there have been various measures to give impetus to the implementation of our agreements.
“As evidence of the work that has been done thus far, a number of agreements and Memoranda of Understanding are ready for signing during this session,” he said.