Zimbabwe planning $50 million bond for irrigation infrastructure

by Reuters 0

HARARE (Reuters) – Zimbabwe’s government plans to issue a three-year $50 million bond to finance irrigation infrastructure in the country, part of efforts to improve its long term food security, according to a term sheet of the bond seen by Reuters on Wednesday.

The southern African nation has struggled to feed itself since 2001, partly due to frequent droughts and President Robert Mugabe’s seizures of white-owned farms, which hit commercial agriculture production.

(Reporting by MacDonald Dzirutwe; Editing by Hugh Lawson)