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Zim close to securing loan from SA

Zimbabwe could receive a loan of up to $100 million from their neighbours South Africa.

Zimbabwe could receive a loan of up to $100 million from their neighbours SA.

HARARE - Zimbabwean Finance Minister Tendai Biti says he has almost concluded a deal for a $100 million loan from South Africa.

Biti asked for the money in September, but this is the first indication the deal is really on.

Biti says he is in constant contact with his South African counterpart Pravin Gordhan regarding the loan.

He says South Africa is agreeable to the loan but there are few issues that have to be ironed out first.

According to state media, the money will not be used for elections.

It reports it will go to help Zimbabwe achieve its millennium development goals and it will be used for infrastructure projects.

In November, former finance minister Trevor Manuel stressed that South Africa did not want to throw money at bad policies in Zimbabwe.