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Zimbabwe Expecting First Tranche of S. African Funding This Month

South Africa should make the first tranche of its 800 million rand (US$90 million) pledge for the reconstruction of Zimbabwe available by the end of this month, Zimbabwean Economic Planning Minister Elton Mangoma said Monday after a related workshop in Pretoria.

Mangoma told VOA that Zimbabwean companies are already in the process of applying for credit under a 500 million rand facility that is part of the South African package. The balance of 300 million rand will go to support Zimbabwean government operations.

Pretoria pledged the 800 million rand assistance shortly after a summit last month of the Southern African Development Community on Zimbabwean reconstruction.

Mangoma told reporter Patience Rusere of VOA's Studio 7 for Zimbabwe that he expects to receive additional pledges of aid from other Southern African countries on the margins of the International Monetary Fund/World Bank spring meetings in Washington next week.

More reports from Studio 7's Voice of America...