It covers payment for 19,000 tonnes of wheat, which will help avoid shortages.
The funding will be used to purchase 19,000 tonnes of wheat bonded in Beira, Mozambique. That will cover the national flour requirements for the next two and a half weeks, said Tafadzwa Musarara, chairman of the group.
National Railways of Zimbabwe is in the process of loading the wheat, which will start arriving in the country next week.
“The situation is expected to improve the supply of flour starting next week,” Musarara said.
Earlier this week he said supplies had “drastically” declined and the nation faced bread shortages. A leading bakery had suspended operations, according to reports.
An additional 60,000 tonnes of wheat in Mozambique is under consignment and payment negotiations are under way with the central bank, Musarara said.