China loans Zambia $29m for infrastructure
Updated: 2015-06-17 09:28
(Xinhua)
|
||||||||
LUSAKA - The China Development Bank (CDB) and the Zambia-China Economic & Trade Cooperation Zone (ZCCZ) have signed a loan of $29 million to improve infrastructure at its Lusaka Park, a senior Chinese bank official has said.
The improvement of infrastructure at the ZCCZ was aimed at providing a better development platform for enterprises in the park, said Zhu Liqun, the president of CDB's Jiangxi branch.
Zhu said that in August 2014, CDB signed the first loan agreement with ZCCZ and Bank of China Zambia limited. Zhu hopes that through two loans of a total of 59 million dollars, it could further accelerate the development of infrastructure in ZCCZ Lusaka Park and attract more Chinese enterprises to invest in Zambia and promote local economic development.
The ZCCZ is the first multi-facility economic zone declared by the Zambian government.
It is also the first Chinese overseas economic and cooperation zone established in Africa.
CDB has so far provided loans amounting to 410 million dollars to Zambia in areas such as metallurgy, roads, real estate, which have gone a long way in supporting the African nation's economic development and trade.
Ten photos you don't wanna miss - June 16
Shaolin monks harvest bumper crop
Cambridge students mark end of exam with boat race
Village attracts tourists after first lady's visit
Top 9 US-listed Chinese companies going private
Hainan San Jose to Beijing: Ready for take-off
Trending Across China: A Porsche gilded in gold
Paris Air Show: From Bombardier's new C Series to China Airlines
Most Viewed
Editor's Picks
![]()
|
![]()
|
![]()
|
![]()
|
![]()
|
![]()
|
Today's Top News
China, US spearhead MERS fight
Key China-US talks
next week
Jeb Bush announces bid for 2016 Republican presidential run
China military says two more top officers probed for graft
Alibaba set for online video-streaming launch
China, US develop new MERS treatment
China to complete land reclamation of construction on some Nansha Islands soon
Military launches drive to root out corruption in construction projects
US Weekly
![]()
|
![]()
|