{"id":96525,"date":"2024-07-15T12:43:13","date_gmt":"2024-07-15T10:43:13","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/nmb-secures-10m-loan-to-boost-agricultural-exports-support-sustainable-farming"},"modified":"2024-07-15T14:56:58","modified_gmt":"2024-07-15T12:56:58","slug":"nmb-secures-10m-loan-to-boost-agricultural-exports-support-sustainable-farming","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/nmb-secures-10m-loan-to-boost-agricultural-exports-support-sustainable-farming","title":{"rendered":"NMB secures $10m loan to boost agricultural exports, support sustainable farming"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Zimbabwe. <\/strong><\/span>NMB Bank Zimbabwe Limited says it has secured a $10 million loan from British International Investment (\u201cBII\u201d), the UK\u2019s development finance institution and impact investor, to support agricultural exporters and sustainable farming practices in the country.<\/p>\n<p>The facility positions NMB Bank as one of the prime supporters of the agriculture sector\u2019s sustainability efforts. This is the first financial services debt financing from BII in Zimbabwe, reflecting the organisation\u2019s commitment to support the country\u2019s banking sector.<\/p>\n<p>About 70% of the funding will be allocated to NMB\u2019s agricultural exporter customers. This will enable them to invest in capital expenditure such as machinery, operation infrastructure like irrigation systems and material imports including fertilizers to enhance their production capabilities.<\/p>\n<p>The remaining 30% will be channelled to customers practising sustainable agriculture with projects that promote climate risk mitigation and adaptation. For example, it could help customers to install on-farm renewable energy andenergy efficient measures, as well as get access to climate information and weather services to build climate resilience.<\/p>\n<p>British ambassador to Zimbabwe , Pete Vowles said: \u201cWe are very excited to see this new investment by BII, the latest in a long history of UK investment in Zimbabwe to grow businesses and economic opportunity. The focus on boosting agricultural exports and on sustainable agriculture aligns well with Zimbabwe\u2019s national development priorities, and will help promote food security and exports, increase incomes, and strengthen resilience to climate change. My team and I are working to bring more UK investment to Zimbabwe, and this is an important step on our journey together.\u201d<\/p>\n<p>Chris Chijiutomi, managing director and head of Africa, BII said his organization recognized that agriculture is the backbone of Zimbabwe\u2019s economy, hence the financial injection.<\/p>\n<p>\u201cThrough providing the much-needed capital through our partner NMB Zimbabwe, we are addressing the financing gap for agribusinesses for better and more sustainable economic output. This is aligned with the country\u2019s priority to modernise and grow the sector, poised to provide better economic opportunities to the larger working population.\u201d<\/p>\n<p>NMB Bank\u2019s chief executive officer Gerald Gore said: \u201cNMB Bank&#8217;s collaboration with BII is a significant development for Zimbabwe&#8217;s agricultural sector. We are excited to be the first bank in the recent past to benefit from such support from BII and this speaks to vision alignment between the two institutions and our desire to boost agriculture exports for the country. The $10 million commitment comes with a great focus on sustainability. This partnership has the potential to unlock significant growth opportunities within the agricultural sector, contributing to the nation&#8217;s economic prosperity.\u201d<\/p>\n<p>The latest investment supports United Nations\u2019 Sustainable Development Goals SDG 2 on Zero Hunger, SDG 8 on Decent Work and Economic Growth, SDG 9 on Industry, Innovation and Infrastructure, as well as SDG 13 on Climate Action.<\/p>\n<p><strong>For More News And Analysis About Zimbabwe Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Zimbabwe. NMB Bank Zimbabwe Limited says it has secured a $10 million loan from British International Investment (\u201cBII\u201d), the UK\u2019s development finance institution and impact investor, to support agricultural exporters and sustainable farming practices in the country. The facility positions NMB Bank as one of the prime supporters of the agriculture sector\u2019s sustainability [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":96524,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[19],"class_list":{"0":"post-96525","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-zimbabwe"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NMB secures $10m loan to boost agricultural exports, support sustainable farming - zimbabwe<\/title>\n<meta name=\"description\" content=\"NMB Bank Zimbabwe Limited says it has secured a $10 million loan from British International Investment (\u201cBII\u201d), the UK\u2019s ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/nmb-secures-10m-loan-to-boost-agricultural-exports-support-sustainable-farming\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NMB secures $10m loan to boost agricultural exports, support sustainable farming\" \/>\n<meta property=\"og:description\" content=\"NMB Bank Zimbabwe Limited says it has secured a $10 million loan from British International Investment (\u201cBII\u201d), the UK\u2019s ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/nmb-secures-10m-loan-to-boost-agricultural-exports-support-sustainable-farming\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-15T10:43:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-15T12:56:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/07\/sm_1721035278.450518.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"671\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/nmb-secures-10m-loan-to-boost-agricultural-exports-support-sustainable-farming\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/nmb-secures-10m-loan-to-boost-agricultural-exports-support-sustainable-farming\",\"name\":\"NMB secures $10m loan to boost agricultural exports, support sustainable farming - 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