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Botswana: China exempts nation from repaying loans

Botswana and China have signed a protocol under which the Chinese government exempted the Botswana government from payment of three interest-free loans, amounting to a total US$8 million.APA learned Friday that the protocol was signed by the Minister of Finance and Economic Development, Kenneth O. Matambo, and the ambassador of China to the country, Zhao Yanbo.

Speaking at the signing ceremony, Matambo said the exemption is in line with China’s undertaking during the Forum on China-Africa Cooperation (FOCAC) Summit held in Johannesburg in December 2015.

He said this amount covers loans that were extended to the country to finance the Railway Rehabilitation Project and two loans which financed a Multi-purpose Youth Center.

Chinenye's Blog
Tags : BotswanaChinaDecember 2015JohannesburgKenneth O. MatamboZhao Yanbo
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