PRESIDENT LUNGU SIGNS FOR USD$130 MILLION LOAN FROM CHINA
PRESIDENT Edgar Lungu and his Chinese counterpart Xi Jinping yesterday held bilateral talks which culminated into the Zambia securing US$130 million, part of which will be invested in the construction of communication towers across the country.
Mr Lungu and Mr Jinping yesterday signed two bilateral agreements which saw Zambia secure US$65 million and US$70 million under the framework for concession of loans and grants.
The US$65 million would be invested into the construction of communication towers under the Zambia Information, Communication and Technology Authority.
Finance Minister Alexander Chikwanda signed both agreements on behalf of Zambia while Chinese Minister of Commerce Gao Hu Cheng signed on behalf of his Government at a ceremony held at the Great Wall of the People of China.
President Lungu paid tribute to the Chinese Government for its continued support to Zambia in many social and economic sectors as well as the political agenda.
He told Mr Jinping that Zambia’s agriculture sector was growing and asked the Chinese Government to consider constructing maize solar milling plants in each of the country’s ten provinces to easy the economic hardships Zambians were facing.
“Zambia and China have been enjoying warm bilateral relationships for a long time. Since independence, the diplomatic ties between Zambia and China have been growing and the signing of the two bilateral agreements today (yesterday) is a sign that our relationship have continued to grow from strength to strength. We would like you to consider establishing maize solar milling plants in all of our ten provinces because that would be a sure way of reducing the cost of mealie meal, our staple food,” President Lungu said.
The President said he was not happy that the price of mealie in the country had remained high and almost unaffordable to most families when the country had over the years been producing bumper harvests without citizens benefiting. Full story at:http://zambiadailynation.com/…/…/lungu-xi-confer-in-beijing/
Mr Lungu and Mr Jinping yesterday signed two bilateral agreements which saw Zambia secure US$65 million and US$70 million under the framework for concession of loans and grants.
The US$65 million would be invested into the construction of communication towers under the Zambia Information, Communication and Technology Authority.
Finance Minister Alexander Chikwanda signed both agreements on behalf of Zambia while Chinese Minister of Commerce Gao Hu Cheng signed on behalf of his Government at a ceremony held at the Great Wall of the People of China.
President Lungu paid tribute to the Chinese Government for its continued support to Zambia in many social and economic sectors as well as the political agenda.
He told Mr Jinping that Zambia’s agriculture sector was growing and asked the Chinese Government to consider constructing maize solar milling plants in each of the country’s ten provinces to easy the economic hardships Zambians were facing.
“Zambia and China have been enjoying warm bilateral relationships for a long time. Since independence, the diplomatic ties between Zambia and China have been growing and the signing of the two bilateral agreements today (yesterday) is a sign that our relationship have continued to grow from strength to strength. We would like you to consider establishing maize solar milling plants in all of our ten provinces because that would be a sure way of reducing the cost of mealie meal, our staple food,” President Lungu said.
The President said he was not happy that the price of mealie in the country had remained high and almost unaffordable to most families when the country had over the years been producing bumper harvests without citizens benefiting. Full story at:http://zambiadailynation.com/…/…/lungu-xi-confer-in-beijing/