Foreign and Military Affairs
China to forgive half of Africa rail debt
Updated: 2011-01-20 10:58
By Wang Qingyun (chinadaily.com.cn)
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.
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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.
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