RSS Feed
October 27th, 2017 
Awake Goy 
nsnbc : In an agreement finalized on Thursday in Maputo, the People’s Republic of China has agreed to write off $36 million of Mozambique’s debt. Under the agreement the Chinese government decided to waive Mozambique’s obligations in terms of repayment of four interest-free loans worth 239 million yuan, equivalent to $36 million.
The agreement was signed by Deputy Minister of Foreign Affairs and Cooperation, Nyeleti Mondlane, and the Chinese ambassador to Mozambique, Su Jian. Mondlane, speaking before reporters, said that debt forgiveness is of paramount importance for contributing to a better reprogramming of the budget and application of the resources that the country has.
Mozambique and China have been developing a wide range of projects, including in the traditional areas of infrastructure, energy and mineral resources, agriculture, tourism, transport and communications.
For his part, Ambassador Su Jian explained that China’s goal is to reduce the debt pressure on the Mozambican government. This attitude, according to the ambassador, could allow for the continuation of serious cooperation in a sustainable way between the two countries.
Meanwhile, China has also pledged to give Mozambique €12.7 million for the construction of a new airport in Xai-Xai, capital of Gaza province as part of the debt pardoning. The airport construction will cost $60 million to be funded by China’s Exim Bank Mozambique.
F/AK – nsnbc 27.10.2017
Source Article from https://nsnbc.me/2017/10/27/china-writes-off-36-million-of-mozambiques-debt/
Posted in 
Tags: 
