ZBC reportedly refuses to repay Iran loan
June 19th, 2011 - 11:57 UTC
by Andy Sennitt.
The Zimbabwe Broadcasting Corporation (ZBC) is reportedly refusing to repay a US$5 million Iranian loan which was used to refurbish the broadcaster’s studios, claiming some of the equipment supplied under the deal was defective. The loan was part of a US$15 million deal reached in 2004 between the Zimbabwe government and Tehran with about US$10 million going to the Agricultural Rural Development Agency.
A report by parliament’s portfolio committee on Media, Information and Communication Technology presented last week stated that the ZBC only paid back US$300,000, adding that managers were refusing to stump-up the balance.