Zimbabwe: EU Might Advance Zim U.S.$318 Million

THE European Union could advance a total of $318 million later this year under the National Indicative Programme if the bloc decides to lift sanctions it imposed on Zimbabwe in 2002 in the wake of ongoing efforts to normalise frosty relations with Harare. Addressing the 11th European Development Fund Programming exercise workshop yesterday, Finance and Economic Development Minister Patrick Chinamasa said Government had faith that sanctions on Zimbabwe under Article 96 of the Cotonou Agreement would be lifted, as promised, on November 1 2014.

"We have faith that the lapse of Article 96 sanctions would, as promised by the European Union, pave way for normalisation of economic relations between Zimbabwe and the European Union," said Minister Chinamasa.

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