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Phillipe Va Dam m e

Zim , EU to sign $270m dealFebruary 9, 2015 Headlines, Top Stories

Tichaona Zindoga Political Editor

Zim babwe and the European Union will soon sign a 234 m illion Euro (about $270 m illion)

funding deal, while trade m issions from Britain and Belgium are expected anytim e, head of the

EU delegation to Zim babwe M r Phillipe Va Dam m e, said last Friday.

The British delegation is expected this week, while the Belgian m ission is due in April am id

growing interest from global powerhouses like China and Russia to do business with Zim babwe

in line with Zim -Asset.

Both giants have since penned m ega deals with Zim babwe ranging from m ining, energy,

transport am ong others, a m ove that has seen som e EU countries and Am erica getting into

panic m ode.

The EU financial deal, dubbed the National Indicative Program m e under the 11th European

Developm ent Fund (2014-2020), is part of a raft of long-term packages the 27-m em ber bloc,

which is warm ing up to Zim babwe after im posing sanctions in 2002, has put in place.

The am ount is indeed 234 m illion Euro and that am ount translated in US dollars fluctuates with

the EXCHANGE RATE (but it is about) $260-270 m illion depending on the EXCHANGE RATE

and thats for the period up to 2020, Am bassador Van Dam m e said in an

interview.

Under the National Indicative Program m e, we have additional funding from other sources. W e

have regional program m es through SADC, through the African Union through COM ESA to be

also in support of trade and regional integration.

W e have additional funds from specific budget lines for exam ple we have budget lines related

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M onday, 9th February 2015

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e speaking about. These am ounts will be topped

up with m ore ad hoc type of program m es of national, regional, international interests, he

explained.

The EU has been engaging Governm ent for the signing m odalities, said Am bassador Van

Dam m e, and all was set for the signing of the deals.

W e are now in contact with the Governm ent to fix the date with the signature, he said.

W e are speaking of days not even of weeks over the next two weeks we should be able to sign

up.

Am bassador Van Dam m e said Zim babwe needed capital investm ent both dom estic and foreign,

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Zim, EU to sign $270m deal | The Herald http://www.herald.co.zw/zim-eu-to-sign-270m-deal/

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