Zimbabwe Government agree to pay white farmers $3.5 Billion compensation

      

The Zimbabwe Government has agreed to compensate white farmers who were evicted from their land during former President, Robert Mugabe Land Redistribution program. The president of Zimbabwe  Emmerson Mnangagwa has signed an agreement to pay the white farmers affected the sum of $3.5 million.

President Emmerson Mnangagwa said at the State House after signing the agreement with Andrew Pascoe, the president of the Commercial Farmers Union of Zimbabwe.,"This momentous occasion is historic in many respects, brings both closure and a new beginning in the history of the land discourse in our country Zimbabwe,".

According to the president the compensation does not include the land but covers only infrastructures the farmers lost.

"The government of Zimbabwe does not have any obligation for compensation for acquired land. Our entering into the agreement does not create any liability whatsoever in this regard," said Mnangagwa.

"After almost 20 years of conflict over the land issue, representatives of farmers who lost their land through the fast track reform program and representatives of government have been able to come together to see a resolution of this conflict. To me this is nothing short of a miracle. For me it has been a dream that I will see this day," said Pascoe.

According to the agreement, 50 percent of the $3.5 billion would be paid within 12 months from the day of signing, while the balance is paid within five years.

It is still unknown how the poor country will be able to fulfil the contract to pay the compensation to white farmers. The Finance ministry has said that the intend to raise money through loans from International donors.