The Confederation of Zimbabwe Industries (CZI) is hailing the impending three-day visit by representatives of the European Investment Bank to Zimbabwe (EIB) as key in normalizing ties with the West.
The EU delegation is expected to meet Finance Minister Patrick Chinamasa, the CZI, the Zimbabwe National Chamber of Commerce, Bankers’ Association and other business bodies.
But EU Ambassador to Harare Aldo Dell’ Arricia has made it clear that the EIB will not do any business with the government of Zimbabwe as the country owes the bank more than $300 million.
Dell’ Arricia says the EIB’s initial loan to the private sector might be in the region of $50 million depending with the quality of projects.
CZI president Charles Msipa said the visit next Wednesday by the EU is a follow-up to the visit last year by a Zimbabwean business delegation to European capitals.