Wednesday, May 22, 2013

China Extends US$36 Million for Zimbabwe Projects

China extends US$36 million loan for projects

Thursday, 23 May 2013 00:00
Farirai Machivenyika and Tendai Mugabe
Zimbabwe Herald

CHINA has extended a US$36 million loan to Zimbabwe for various projects following the visit by Vice-Premier Wang Yang who met President Mugabe at State House yesterday.

The agreements were signed before Mr Wang and Vice-President Joice Mujuru, after which he proceeded to meet President Mugabe.Mr Wang briefed the President on the deals.

Speaking through an interpreter after the meeting, Mr Wang said they discussed various issues with President Mugabe.
“I was deeply impressed by the meeting with President Mugabe,” he said.

“I did not expect him to be in such good health. We talked about how we can strengthen our economic and trade co-operation in the areas of agriculture, infrastructure development, health, education and water development.”

Vice-President Joice Mujuru said President Mugabe explained to Mr Wang the history between Zimbabwe and China.

“He was explaining the agreements that were signed this morning with the ministries of Finance and Water and the document they exchanged with the Ministry of Mines,” she said.

“He told the President how China is ready to assist Zimbabwe. The President heard about the history of relations between Zimbabwe and China since the days of the liberation struggle.”

The visit by Mr Wang is his first to Africa since his appointment to the post two months ago.

VP Mujuru said the President explained to Mr Wang the various areas which the Chinese could invest in, especially infrastructure development and irrigation development.

The first agreement to be signed was an interest-free loan agreement of US$16 million payable over five years.

Acting Finance Minister Samuel Sipepa Nkomo signed the agreement on behalf of the Government, while Chinese Vice Minister of Commerce Li Jinzao stood in for China.

Minister Nkomo and Vice Minister Li signed another agreement that would see Harare receiving US$16 million grant from Beijing for developmental projects.

The two ministers also signed an acceptance letter for 136 boreholes that were drilled in Masvingo, Matabeleland North, Matabeleland South and the Midlands.

Minister Nkomo and Vice Minister Li signed the acceptance letter for the disbursement of US$56 500 for feasibility studies for the drilling of 350 boreholes.

Mines and Mining Development Minister Obert Mpofu exchanged documents with Vice Minister Li for a US$18 million grant that was signed for implementation of a geo-chemical survey in Harare and Gweru.

Mr Wang also held a meeting with Vice President Mujuru at her Munhumutapa Offices.

He arrived in Zimbabwe on Tuesday and is scheduled to tour projects established by Anjin in Nyanga today.

Zimbabwe has several business deals with China in areas of trade and investment.

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