Zimbabwe News and Internet Radio

Diamonds to fund student grants in Zim

Zimbabwe’s government plans to use some of the revenue from the sale of its rough diamonds to reinstitute grants for students, the University World News reports.

Tendai Biti about to present budget
Tendai Biti about to present budget

According to the UWN, none of Zimbabwe’s government-run universities have been able to supply student grants or loans for over a decade.

In his budget statement for 2012, Finance Minister Tendai Biti stated that he was allocating $25 million for student grants and loans, a sum he expected to see matched by banks, including Barclays.

The decision to use diamond money to benefit the country’s students is reportedly a tactic to win support in the international community for the sale of Zimbabwe’s diamonds.

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Although the Kimberley Process lifted its embargo against Marange diamonds in November, the subject remains controversial. http://www.israelidiamond.co.il/