info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
Photo from Internet
China has spent $2,5 billion on Zimbabwe, which is by far the highest amount of money it has ever advanced to any African country.
Speaking at the 2019 Spring Festival Gala held in Harare on Sunday, charge d'affaires of the Chinese Embassy, Zhao Baogang, said the money has been advanced to the country through loans and investments, among other issues.
"In one word, some $2,5 billion (US dollars) of loans, investments and grants have been provided by the Chinese government, financial institutions and enterprises to Zimbabwe, much larger share than most other African countries," Baogang said.
China has been one of the country's biggest partners since the turn of the millennium when the government took a look east approach - after being isolated by Western nations over human rights abuses - even though the relationship dates back to the time of the liberation struggle.
Over the years, China has been investing in different sectors of the economy in Zimbabwe including the energy sector.
"Kariba South Expansion Project has been completed, adding 300MW power generation capacity to national grid. We have launched ground-breaking ceremony for the Hwange Thermal Power Station expansion project. We have launched ground-breaking ceremony for the Harare International Airport rehabilitation project. We have launched ground-breaking ceremony for the construction of new Parliament building project.
"Zimbabwe will have the capacity to export electricity to earn the much needed hard currency very soon. We work, cook with the electricity from Kariba South Expansion project financed by China Exim bank. Everyone is closely connected with China-Zimbabwe cooperation.
