Friday, May 01, 2009

400 Million credit from Africa

from Reuters

..."COMESA (Common Market for Eastern and Southern Africa) has provided a line of credit and so have Botswana and South Africa and that brings the line of credit to $400 million," Biti said.

"Botswana is giving us $70 million and South Africa is giving us $50 million and COMESA is giving us the bulk of the amount."

State media reported on Wednesday that the southern African country had secured $400 million in credit lines to help the local economy recover from years of economic contraction and hyper-inflation.

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