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European Bank seeks to finance Zimbabwe business

A grocery store owner speaks on December 18, 2010 in his store in the farming district of Nyazura, east of HarareThe European Investment Bank said Thursday it was considering funding private businesses in Zimbabwe despite Harare’s $300 million debt to the institution. “We are here to explore the possibilities to reengage activities in Zimbabwe. We see possibilities with the private sector,” said Diederick Zambon, who heads the banks division for southern Africa and Indian Ocean. He told journalists that the private sector was “the backbone of the economy” and crucial to the further development of the country.

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