Zim and China sign deal to expand Robert Mugabe airport

China has agreed to fund upgrades to the Robert Gabriel Mugabe airport in Harare.

The refurbishment includes an expansion of the terminal building, repairs to the runway, installation of the communication system, and renovation of the fire station, among other work.

The loan deal, worth around US$153m (R2bn) is payable in 20 years with 2% interest rates and a grace period of seven years. This is part of a larger Chinese investment in Zimbabwe that will see the construction of a new parliament building as well as a high-performance computer centre.

Zimbabwe’s finance minister, Patrick Chinamasa, admitted that they have yet to repay China for previous loans. He insisted that the Asian superpower understood Zimbabwe’s economic situation and was still open to new deals, describing them as an “all-weather friend”.

Source: TU