China Development Bank pledges $80 million loan for Mutare Paper Manufacturing Plant Project
Constant 2017 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Industry, mining, construction (Code: 320)
On 11 August, 2006, a Zimbabwean media outlet reported that China Development Bank would invest $80 million USD in the construction of a paper manufacturing plant in the city of Mutare, Zimbabwe while partnering with a number of local companies (See: China to sink $80m into white paper plant in Zim). The three companies who helped organize the Zimbabwean side of the deal were Hunyani Holdings; Zimbabwe Newspapers (Zimpapers), Zimbabwe's leading consumer of newsprint; and the Forestry Company of Zimbabwe, the owner of commercial timber for paper production (See: China to sink $80m into white paper plant in Zim). There is no evidence that this project ever moved forward.
It should be noted that this planned paper plant is separate from the previously existing Mutare Board Paper Company in the city.
Number of official sources
Number of unofficial sources
Receiving agencies [Type]
Government of Zimbabwe [Government Agency]
Implementing agencies [Type]
Forestry Company of Zimbabwe [Private Sector]; Hunyani Holdings [Private Sector]; Zimbabwe Newspapers (Zimpapers) [State-owned Company]