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development over the next 12 years.
The bank is also seeking to purchase a wide range of raw minerals from the country for their industries.
These include zinc, chrome, nickel, earth metals, iron, steel and platinum among others.
Although the delegation said they would have been interested in the diamonds they decided it would, however, be costly in terms of due diligence work as a result of the debate that has been going on around Zimbabwean gems.
This was revealed by a two-member delegation representing the bank that met with Minister of Economic Planning and Investment Promotion Tapiwa Mashakada.
Commerzbank vice president Mr Thomas Rybicki said both countries could benefit extensively from the proposed deal.
“We want Zimbabwe to supply our industries with raw materials to ensure their survival, while Zimbabwe will benefit in terms of funding for key infrastructure projects. It can be a long-term partnership,” he said.
According to Mr Rybicki, the modalities and other details of the deal, for instance the interest rates applicable and the loan repayment period, will be spell out when they meet a number of Government ministers.
Minister Mashakada said his ministry would table the offer to Cabinet for review.
“We will look into the proposal as Cabinet. It certainly appears like a positive shot in the arm for the economy.
“There are a number of critical infrastructure projects that we need to develop around energy, transport, water and housing among others of which funding is required and 500 million euros will go a long way,” he said.
The minister assured the Commerzbank representatives on the long-term stability of the economic environment saying that the country was not going back on the inclusive Government.
The Commerzbank vice president indicated that his bank was not perturbed by the issue of sanctions or negative reports about the country.
“There is growing perception that the Zimbabwean economy is changing and that is why people like us are willing to invest in Zimbabwe,” said Mr Rybicki.
The German delegation was yesterday also set to meet with Minister of Energy and Power Development Elton Mangoma.