Botswana extends credit line to Zimbabwe -- Diamond-rich Botswana has offered to lend neighboring Zimbabwe $95 million in private sector loans to help ease its economic crisis. It's rare for an African country to offer such a deal.

As far as the economy is concerned, Zimbabwe is considered by most people to be one of the poorest countries in the African continent. The country was once on its way to becoming a middle-income nation in the 70s, but it faced major deterioration financially during the late 90s. One well-known reason for the drastic drop in the economy of a once great country could be the high inflation rates that it had begun experiencing in their currencies. Nonetheless, Botswana, a diamond-dependent country has become one of the few African countries helping their neighbors, as well as themselves through a credit facility. This will surely contribute to general growth in both countries’ economies.

This is what i want to see African countries do for themselves more of rather than running hat in hand to western countries for help at the slightest sign of trouble. Botswana is showing that it can be a big brother by helping struggling economies like Zimbabwe's with a credit line bailout never heard of before. It's just so sad to see what has happened to Zimbabwe over the last couple of years, but this development is deeply satisfying to me.

Botswana??? Diamond - Rich???
I am lost. I had no idea about that. A great and kind gesture from them. And they are really making a great statement here. $95 million is no peanut. Dealing in Diamond, and if they are able the make even better exploits, there is no stopping them. The loan will in no doubt help Zimbabwe out of their financial crisis if the money is not misappropriated. Dying businesses and SMEs should be able to benefit as well and also get back to work, and pay their workers. They (Zimbabwe) government, i think need a critical look into their economy instability so they can with time get away from recession.

If African countries are indeed sibling, then this is the most holistic depiction of such claim. For once, it is reassuring to read the news and not to find the west giving African countries aids and loans, but an African country instead, giving out loan to another country, even if it's to another African country. I think this is a new phase for African's economic development, and Botswana is leading, holding the torch. While this loan is a far cry for what Zimbabwe require to totally assuage their economic woes, I think it's a start. Africa should start leading itself.

Huge step by Botswana, Even though they might be rich in diamond its another thing entirely to provide such a big gesture by lending another fellow African country Funds that undoubtedly will contribute to the promotion of economic and social development by giving concessional funding for projects and programs leading to poverty reduction. The Loan if utilized well by Zimbabwe will also advance the country’s financial inclusion and social welfare aspirations. Other African nations need to follow this lead.