On February 11, the signing ceremony of the Chinese grant of $23.3 million to Zimbabwe was held at the Ministry of Finance. Chinese Ambassador Mr. Lin Lin and Miniter of Finance Mr. Chinamasa signed the agreement on behalf of their respective governments.

In his speech, Ambassador Lin Lin said the grant was a testimony of the strong ties that exist between the two countries. "The Chinese government and its people have always helped Zimbabwe in building their homeland, developing the economy, improving people's living standards, reducing poverty and fighting natural disasters. We have achieved remarkable success especially in areas of agriculture, health, education, water and energy sectors."

Minister Chinamasa said in his speech that this grant from China would be used to construct schools and clinics in newly resettled areas in line with the government's priorities as enshrined in its blue print, Zim Asset. He said China had become Zimbabwe's most reliable and all-weather friend as it has continued to support the country in time of need. Zimbabwe was awaiting the finalisation of a "comprehensive financial package" from China that would speed up the country's economic revival.

China has supported Zimbabwe in various forms which include sizable chunk of grants worth tens of millions, interest free and concessional loans every year.