China
        

Foreign and Military Affairs

China to forgive half of Africa rail debt

Updated: 2011-01-20 10:58

By Wang Qingyun (chinadaily.com.cn)

Twitter Facebook Myspace Yahoo! Linkedin Mixx

Chinese Vice-Minister of Commerce Zhong Shan signed an agreement with counterparts from Zambia and Tanzania in Lusaka, Zambia's capital, on Jan 19, to forgive 50% of the debt from China to build and operate the Tanzania-Zambia railway.

Related readings:
China to forgive half of Africa rail debtSouth Africa delays deportation of Zimbabwean migrants 
China to forgive half of Africa rail debtRoad show held to promote South Africa 
China to forgive half of Africa rail debtS. Africa adds new momentum to BRIC mechanism 
China to forgive half of Africa rail debtChina-Africa trade hits record high 

The Chinese government took the action because of the traditional friendship between China and Africa, and Chinese people want to do their best to support African people's development, said Zhong at the signing ceremony. He also said the Chinese government hopes the railway will operate with less debt and boost the regional economy and benefit the two countries.

China helped construct the Tanzania-Zambia railway at the request of the leadership of Tanzania and Zambia in 1970, and handed it over after its completion in 1976. The Chinese government provided an interest-free loan of 988 million yuan to complete the project, and continued to provide such loans and technicians to ensure its operation.

  

E-paper

Ear We Go

China and the world set to embrace the merciful, peaceful year of rabbit

Preview of the coming issue
Carrefour finds the going tough in China
Maid to Order

European Edition

Specials

Mysteries written in blood

Historical records and Caucasian features of locals suggest link with Roman Empire.

Winning Charm

Coastal Yantai banks on little things that matter to grow

New rules to hit property market

The State Council launched a new round of measures to rein in property prices.

Top 10 of 2010
China Daily in Europe
The Confucius connection