China cancels 50% of unpaid TAZARA loan
The Chinese government has cancelled 50 per cent of the unpaid loan used to construct the Tanzania Zambia Railway line.
Wen Jiabao the premier of China told president Rupiah Banda during a closed-door meeting in China on Friday.
The talks between the two leaders focussed mainly on the resuscitating of the TAZARA Railway.
President Banda met Jiabao and his delegation at Zhongnanhai where the two leaders discussed the continued cooperation between the two countries. President Banda said he was happy that the Chinese Government has decided to offer 164 scholarships to Zambian students to study in China.
President Banda thanked the Chinese Government for the decision to cancel half of the unpaid loan saying it will go a long way in helping the company to resuscitate its operation.
The Chinese Government said it will also put up a team of experts to help TAZARA overcome its difficulties because it was a very significant asset for the economic development of Zambia and the neighbouring countries, which are dependent on the railway line for transport.
According to president Banda’ spokesperson Dickson Jere, after meeting the Chinese Premier, President Banda held closed-door official talks with the Chairman of the National People’s Congress (NPC) Wu Bangguo at the Great Hall of the People (GHP) where they discussed a number of issues relating to political and economic cooperation.
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continue pushing things for mother zambia.thats a plus for u mr president.but i dont know what the chinese re up to
Hats off RB iam sure you will win the 2011 Election with a landslide victory next only to the FTJ revolution of 1991.
Positivist pa zed, that is the mentality of the opposition in Zambia, oppose until your last breath. This is very good news Zambians, I want to ask you this question, has this trip been a waste of tax payers money too. Just a question. If you notice very few people are commenting on this report, are we so negative that any good kills us to even admit it it is positive. I said a few weeks ago and insulted because of it, I said I fear that in 2011, many bloggers in diaspora will suffer with heart attacks when the election results come out. This deep rooted hate for RB will kill them when they find he has won once again. Lets be impartial with these things and admit a good, its Sunday after all, it wont kill you to simply say congratulations RB, a positive for mother Zambia. Enjoy your Sunday.
Chimba wachibili, come on how can you be so negative. Its irelevant how much has been paid already thats a sunk cost. What is relelvant is that the part of the loan has been written off
well the so called 50% is just a drop in the chinese oceans. we have to ask ourselves how much was the loan and how much has been repaid so far? due to interest rates changing overtime, i wont be surprised to know that actually we have infact paid more than we should have had we adhered to repayment schedules coz its been a long time since the rail line was built as well as mulungushi textiles in kabwe and united milling company in chingola
Some positive news about RB at last.
I give you 1% mr president at long last you have done a little thing
now thats presidential work, hats off to RB. What a contrast with Satan Cobra who is now embroiled with his finanial and bastard scandals.