The countryâ€™s agriculture industry is set for a boost from a US$50 million credit line facility pledged by the Indian Government to finance farming activities in the 2011/2012 farming season.In terms of the arrangement, the Indian Government is expected to provide technical support to the agricultural sector through the procurement of equipment as well as the provision of funds.
Speaking on the sidelines of the Indo-Zimbabwe Technology Centre graduation ceremony in Harare, Indian Ambassador to Zimbabwe, Mr. Venkatesan Ashok said the Indian Government is committed to the recovery of the Zimbabwean economy through the provision of capital assistance for strategic sectors with a potential for creating jobs and restoring business confidence.
â€œWe are doing everything to ensure that we do our best for the development of the economy and the US$50 million facility is one of the key aspects,â€ Mr Ashok said.
The Minister of Small and Medium Enterprises and Cooperative Development, Cde Sithembiso Nyoni, who was guest of honour at the graduation ceremony, hailed the Indian Government for assisting the informal sector, saying the Indo-Zim Technology Centre has emerged as an important institution in providing technical expertise to emerging companies.
â€œWe are grateful to the Indian Government for the assistanceÂ they are offering as this will be important in the long term,â€ said Cde Nyoni.
More than 50 students from the countryâ€™s informal sector were presented with certificates at the ceremony after completing courses in industry technology at the Indo-Zimbabwe Technology Centre in Harare which is funded by the Indian Government.
Bilateral trade and investment ties between Zimbabwe and India are set to increase as both countries focus on business and economic cooperation in the fields of agriculture, mining, manufacturing, construction and tourism.