Zinara repays US$206 million loan
The Zimbabwe National Road Administration has cleared its debt to the Development Bank of Southern Africa.
The Zimbabwe National Road Administration (Zinara) has fully repaid a US$206 million loan to the Development Bank of Southern Africa (DBSA). This debt financed the rehabilitation of 800 kilometres of roads.
Zinara stated that clearing the debt fulfills a government mandate. This action aims to rebuild Zimbabwe's standing with lenders and show its ability to meet financial obligations, according to Manyaya.
The road rehabilitation project covered 800 kilometres of routes. Zinara is now seeking new lenders following the debt clearance.
Why it mattersZimbabwe's road infrastructure financing and its relationship with international lenders are affected.