The Ministries of Finance and Industry say they had successful engagements with financial institutions on the sidelines of the just ended FOCAC meeting in Beijing, China.

The just ended forum provided a platform for economic engagement for African countries. The Ministry of Finance and Economic Development and the Reserve Bank of Zimbabwe had successful capitalised on the forum to hold successful meetings with financial institutions on the sidelines of the summit.

The Minister, Cde Patrick Chinamasa said what is needed is follow up meetings on agreed lines of credit for Zimbabwe.

He added that there are talks on adding on the rmb Chinese currency in the basket of currencies used in Zimbabwe’s multicurrency system and use it to support the local currency.

The Minister of Industry, Commerce and Enterprise Development, Cde Mike Bimha said FOCAC brought a lot of excitement as the Chinese government took a stance on achieving a win-win situation and allowing African nations to choose what they want to do with the financial support from the Asian economic giant.

China is one of the fastest growing economies in the world and has already announced a US$60 billion package for Africa and Zimbabwe is among the beneficiaries.