$1BILLION REVOLVING FUND FOR DISTRESSED COMPANIES

The Fund is managed by the Zimbabwe Development Bank. A committee chaired by Ministry of Industry and International Trade monitors the Fund.

Identification of Companies

. Advertisements through the local press

. Master of the High Court

. Companies voluntarily coming forward

. Indigenous Business Associations

The Companies should be:

•  Closed companies

•  Companies in liquidation or judicial management

•  Companies about to close as a result of macro-economic hardships

Priority will be given to:

. Quick turnaround companies

. Small and medium enterprises

. Manufacturing sector

. Mining

. Tourism

. Agro-Industries

Eligible Applicants

Distressed companies (in manufacturing and other priority areas above) in all sectors of the economy. These should also have the capacity to generate foreign currency.

Terms and Conditions

. Maximum loan size is $100m

. 25% interest

. An administration commission of 1 % of revenue per quarter through the loan tenure.

. Grace period to be determined by Zimbabwe Development Bank.

. Maximum maturity period is 18 months for working capital and 3 - 5 years for capital funding

. The principle of collateral is upheld. Title deeds or equipment could be used as collateral.

For more information contact:

Zimbabwe Development Bank ZDB House 99 Rotten Row P.O. Box 1720 Harare

Tel: 263-04-774226/7,750171/8, 751341/2, 774864, 749011

Fax: 263-04-774225

E.mail.zdb(5).co.zw