Afreximbank Agrees to Reorganize $1.4 Billion Owed by Zimbabwe
- Afreximbank to act as financial adviser, identify investors
- Zimbabwe has previously borrowed from bank using minerals
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The African Export-Import Bank has agreed to allow Zimbabwe to reorganize $1.4 billion of debt it owes the lender, which will act as an adviser in the southern African nation’s attempts to raise money to repay the loans, according to documents seen by Bloomberg.
Afreximbank will identify and approach financial institutions and investors who may be willing to provide financing to the Reserve Bank of Zimbabwe and will source letters of intent from interested investors, the document reads.