Barclays Reportedly Bankrolling Mugabe's Regime by Finance News Bulletin

Published: 28/11/07

Barclays is reportedly providing substantial loans to associates of Robert Mugabe in Zimbabwe who have been given land in use from white farmers The bank is supposedly one of the main contributors to a Zimbabwean government system to boost farm productivity, and has thus been accused by critics of helping to fund Mugabe’s dishonest regimeBarclays made a £34 million profit from its operations in Zimbabwe last year, though the Zimbabwean government has affirmed that the British bank must finance the Aspef loans if it wishes to operate in the countryThe Agricultural division Productivity Enhancement Facility (Aspef), the government scheme in question, offers loans to farmers to buy equipment and supplies

However, it has come out of necessity rather than generosity, with the Zimbabwean government forcing their populace to the brink of starvation as a result of their dishonesty The land they have by force taken from white farmers has been given to Mugabe and members of his government, though this has resulted in output plummetingIn further allegations, the British bank is said to have lent £750 million to the novel landowners, whilst new revelations suggest the store has lent money to five of Mugabe’s EU sanctioned ministers As a consequence, Foreign Secretary David Miliband is being encouraged to examine whether Barclays is breaching EU sanctions

The bank has denied any sanctions have been breached, and refused to comment on whether it had transactions

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