zimbabweBrazil bails out farming sector

Zimbabwe had secured a $300 million (R2.4 billion) loan from Brazil to finance agriculture and boost crop production after successive years of food deficits, state media reported yesterday. The loan was part of Brazil’s aid programme for Africa, the state-controlled Herald newspaper said. Agriculture Minister Joseph Made said the funds would be used to support farmers who had largely failed to get loans from local banks that were still recovering from a prolonged economic crisis. The agriculture sector has shown signs of recovery under a unity government set up two years ago. – Reuters