{"id":57569,"date":"2022-04-15T18:12:10","date_gmt":"2022-04-15T16:12:10","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/nmb-to-continue-supporting-productive-sectors-of-the-economy"},"modified":"2022-04-15T20:22:08","modified_gmt":"2022-04-15T18:22:08","slug":"nmb-to-continue-supporting-productive-sectors-of-the-economy","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/nmb-to-continue-supporting-productive-sectors-of-the-economy","title":{"rendered":"NMB To Continue Supporting Productive Sectors Of The Economy"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>NMB Zimbabwe has said it will continue to fund and support the productive sectors of the economy.<\/p>\n

In a statement accompanying financial results for the year ending 31 December 2021, the financial services group said:<\/p>\n

We remained relevant to our Corporate and SME clients by providing customised lending products which meet their exact needs.<\/p>\n

The Agriculture sector was bolstered by the floating of a $2 billion Agrobond whose proceeds are being deployed in various agricultural value chains.<\/p>\n

The Bank signed a US$15 million credit line with a developmental finance partner which is currently being disbursed in selected long-term projects.<\/p>\n

This is up and above another line of US$20 million from a regional funder which was fully utilised.<\/p>\n

NMB also noted the positive impact of various monetary policies that were implemented by the Government such as the foreign exchange auction system which resulted in a significant drop in inflation.<\/p>\n

The year-on-year inflation dropped from a high of 837 per cent recorded in July 2020 to 60.74 per cent as of December 2021. Read the statement:<\/p>\n

Notwithstanding the economic headwinds, the economy achieved an economic growth rate of 7.8 per cent on the back of the continuation of the tight monetary and fiscal consolidation, a good agricultural season and the stabilisation effect brought by the auction system.<\/p>\n

NMB Zimbabwe said the banking subsidiary was compliant with the minimum capital of the equivalent of US$30 million.<\/p>\n

At the end of 2021, the banking subsidiary owed US$13.4 million to various lines of credit providers.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. NMB Zimbabwe has said it will continue to fund and support the productive sectors of the economy. In a statement accompanying financial results for the year ending 31 December 2021, the financial services group said: We remained relevant to our Corporate and SME clients by providing customised lending products which meet their […]<\/p>\n","protected":false},"author":84,"featured_media":57568,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6,35,15],"tags":[1493,2189,575,9495,9494,19],"class_list":{"0":"post-57569","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"category-homepage-english","10":"category-twitter","11":"tag-africa-press","12":"tag-africa-press-zimbabwe-2","13":"tag-nmb","14":"tag-nmb-bank","15":"tag-nmb-zimbabwe","16":"tag-zimbabwe"},"yoast_head":"\nNMB To Continue Supporting Productive Sectors Of The Economy - zimbabwe<\/title>\n<meta name=\"description\" content=\"NMB Zimbabwe has said it will continue to fund and support the productive sectors of the economy. 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