Zimbabwe raises 350 million U.S. dollars under economic program

Zimbabwe has raised 350 million U.S. dollars in cash one month after its introduction of the National Economic Development Priority Program, a senior official said on Sunday.

Minister of Economic Development Rugare Gumbo said although the tree-month target may not be met, the cash and investments secured so far have raised optimism that the program will succeed.

The program is close to sealing investment deals between Zimbabwe and foreign countries, Gumbo said.

The funds were raised from resources that the Reserve Bank of Zimbabwe, the central bank, had mobilized, the minister said.

The minister revealed that representations for investment had been received from Russia and South Korea, and the key sectors earmarked for investment are mining, agriculture and industry, among others.

Source: Xinhua