Zimbabwe Pledges Diamond Revenue for China Loan, Daily News Says
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Zimbabwe will use revenue from its Marange diamond field to repay China’s Anhui Foreign Economic Construction Group Ltd. for building a military training facility, the Daily News reported, citing documents and a parliamentary debate.
The $98 million loan agreement was signed by Finance Minister Tendai Biti on March 21, although it hasn’t been ratified by parliament yet, the Harare-based newspaper reported on its website. Zimbabwe is in a joint-venture with Anjin Investments Ltd., a unit of state-owned Anhui, to mine gems at Marange.