“The minister has the vision (to take Zimbabwe out of the woods) we believe in his tragedy of eat what you kill,” Micheal Gondwe, the PTA Bank president told journalists in Harare on Thursday referring to Tendai Biti the Zimbabwe’s minister of finance. “We have noted some positive changes (in Zimbabwe).”

Once a prosperous nation, Zimbabwe requires at least US$5 billion to revive its ailing economy that has been in recession for almost a decade now.

Critics blame President Robert Mugabe policies for ruining the former breadbasket of southern Africa. Mugabe, in power since 1980 has since formed an inclusive government with his rival opposition leader Morgan Tsvangirai, now the country’s Prime Minister.

The PTA Bank, said Biti, was making a due diligence process to determine how much was required to resuscitate the collapsed Zimbabwean industry. Biti said: “We are very grateful for the role that African banks and African countries are playing in god-fathering us in lifting our hand in the difficult situation that we are in. We have got many of our friends outside the African continent who are sulking, who are finding a lot of bones to chew with us, that is understandable.”

Western donors have put conditions to be met before releasing the much needed impetus to rescue the Zimbabwean economy from the doldrums. Some of the conditions include the restoration of the rule of law, the release of imprisoned political detainees and the removal of the reserve Bank of Zimbabwe governor Gideon Gono from office. Gono is blamed for supporting Mugabe’s regime through printing of the now moribund Zimbabwe dollar.

The African Export-Import Bank (Afreximbank) president Jean-Louis Ekra told journalists after meeting Biti that his institution had availed a facility of US$250 million that will be used to support various industries, for instance, the gold sector, the tobacco and liquidity in Zimbabwean banks and for grain importation. The Afreximbank will work with Harare to formulate, the construction of a Diaspora bond.

“We will float a Diaspora bond in which we will ask Zimbabweans abroad and any other investors to invest in this board with the bank guaranteeing this bond,” said Biti.

“Our support will be coming by way of line of credit in the area of rehabilitation of gold mines, importation of fertilizers ahead of the next agricultural season. Our bank will stand by Zimbabwe in this very difficult moment.”