Update: Botswana’s president denies report of $600 million loan to Zimbabwe

Update: Botswana’s president denies report of $600 million loan to Zimbabwe

Photo source: Reuters

Botswana’s president on Friday dismissed a report that the country had offered Zimbabwe a $600 million diamond-backed loan and said his government had only offered to guarantee a $100 million private credit line for Botswana companies to invest in their troubled neighbor.

Zimbabwe’s secretary in the ministry of foreign affairs was quoted in the state-owned Herald newspaper on Tuesday saying Botswana had offered to lend Zimbabwe $500 million to support its diamond industry and another $100 million for the local private firms.