Zinara approaches banks for funds

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THE Zimbabwe National Roads Authority (Zinara) says it is in talks with various banks to secure short-term funding of $5 billion to be disbursed to local authorities, while it seeks Treasury’s approval to widen its scope for funding and apply for long-term finance.

Zinara board chairman George Manyaya told the media this week that the funds would be part of the authority’s planned $17 billion disbursement for the Emergency Road Rehabilitation Programme II this year.
“We are in talks with various banks to give us facilities, which we expect in the next few weeks and months. We haven’t finalised the agreements, but the response is exhilarating,” Manyaya said.