China Loan Helps Africa Secure Fertilizer, Farm Chemicals
10 July 2009 Part of the US$950 million loan secured from China will provide fertilizer, animal drugs and crop chemicals that are in short supply in Zimbabwe, reports the Zimbabwe Guardian. Agriculture, Mechanisation and Irrigation Development Minister Dr. Joseph Made said his ministry had already sent fertilizer and chemical specifications to the Chinese government for the country’s requirements for the coming season.
“A huge portion of the agriculture component of the China facility will go into sourcing of fertilizer, animal drugs and crop chemicals. It will also target seed producing farmers so that demand for seed does not outgrow what the country will have in stock,” he said. Made added that the money would seek to increase growing of white maize for human consumption, as well as yellow maize for stock feeds.
Zimbabwe received the $950 million loan from China as part of a $5 billion bridging gap finance to assist Zimbabwe’s struggling economy.
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