Zim, EU to sign $270m deal | The Herald

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Phillipe Va D am m e

Tichaona Zindoga PoliticalEditor

Zim babw e and the European U nion w illsoon sign a 234 m illion Euro (about$270 m illion)
funding deal,w hile trade m issions from Britain and Belgium are expected anytim e,head ofthe
EU delegation to Zim babw e M r Phillipe Va D am m e,said lastFriday.

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The British delegation is expected this w eek,w hile the Belgian m ission is due in Aprilam id
grow ing interestfrom globalpow erhouses like China and Russia to do business w ith Zim babw e
in line w ith Zim -Asset.

Polls

Both giants have since penned m ega deals w ith Zim babw e ranging from m ining,energy,
transportam ong others,a m ove thathas seen som e EU countries and Am erica getting into

D oes Zim babw e need m ore

panic m ode.

Tollgates?

The EU nancialdeal,dubbed the N ationalIndicative Program m e under the 11th European

Yes

D evelopm entFund (2014-2020),is partofa raftoflong-term packages the 27-m em ber bloc,
w hich is w arm ing up to Zim babw e after im posing sanctions in 2002,has putin place.

No

The am ountis indeed 234 m illion Euro and thatam ounttranslated in U S dollars uctuates w ith
the EXCH AN G E RATE

(butitis about)$260-270 m illion depending on the EXCH AN G E RATE

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and thats for the period up to 2020,Am bassador Van D am m e said in an

The Herald-Zimbabwe

interview .

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U nder the N ationalIndicative Program m e,w e have additionalfunding from other sources.W e

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have regionalprogram m es through SAD C,through the African U nion through CO M ESA to be
also in supportoftrade and regionalintegration.

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W e have additionalfunds from specic budgetlines for exam ple w e have budgetlines related

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2/9/2015 9:41 AM

Zim, EU to sign $270m deal | The Herald

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http://www.herald.co.zw/zim-eu-to-sign-270m-deal/

e speaking about.These am ounts w illbe topped

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up w ith m ore ad hoc type ofprogram m es ofnational,regional,internationalinterests,he

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ContactD etails

The Sunday M ail

explained.
BM etro
The EU has been engaging G overnm entfor the signing m odalities,said Am bassador Van

Sund Zim Zim

D am m e,and allw as setfor the signing ofthe deals.

BH 2 EU Funding

EU Countries
Mugabe Zimbabwe

Turkey in EU
Exchange Rate Zimbab

W e are now in contactw ith the G overnm entto x the date w ith the signature,he said.

StarFM

W e are speaking ofdays noteven ofw eeks over the nexttw o w eeks w e should be able to sign

M anicapost

up.

Kw ayedza

2013
The H eral
Am
bassador
VandD am m e said Zim babw e needed capitalinvestm entboth dom estic and foreign,

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2/9/2015 9:41 AM

Zim, EU to sign $270m deal | The Herald

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2/9/2015 9:41 AM