GN 2021-245A Government Guarantee issued by the Republic of Zimbabwe - Infrastructural Development Bank of Zimbabwe (IDBZ)

IT is hereby notified, in terms of section 300(3) of the Constitution of Zimbabwe, read with section 20(1) of the Public Debt Management Act [Chapter 22:21], that the Minister of Finance and Economic Development has issued the following Government Guarantee—
(a) guarantee, binding the Government of Zimbabwe as surety for the repayment by Infrastructural Development Bank of Zimbabwe (IDBZ) of the value subscribed through the bonds up to a total amount not exceeding three hundred million Zimbabwean dollars (ZW$300,000,000,00) being the aggregate value of the capital sum, in addition to accrued interest, on the bonds issued by IBDZ in 2020, in the event that IDBZ default on their contractual obligations;
(b) the guarantee shall remain valid and in force until 30th June, 2024.

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