Zimbabwe seeks Chinese funding for Harare Intl. Airport upgrade and expansion
Zimbabwe has approached the Chinese Import Export Bank (Exim) asking for an undisclosed loan amount to fund the planned upgrading and expansion of the Harare International Airport. By Oscar Nkala
Transport minister Jorum Gumbo confirmed to local daily paper Newsday that negotiations were underway with Exim Bank but declined to comment on the progress.
He said Zimbabwe was keen to upgrade and expand airport infrastructure, which resulted in the recent commissioning of the new Victoria Falls International Airport (VFIA).
The infrastructural expansion and upgrade works at Victoria Falls were funded from a Chinese loan of US$155 million. According to the report, negotiations for Chinese funding of the expansion of Harare International Airport began months ago and have reached the final stage.
Executives from China Exim Bank have already met with officials from the Civil Aviation Authority of Zimbabwe (CAAZ)and conducted a site assessments. The deal loan proposal now awaits approval by the Zimbabwean Ministry of Finance.