Mozambique expects to sign a new program with the IMF this year
China ponders Mozambique debt relief
1:18 CAT | 22 Sep 2016
Noticias / Chinese Ambassador to Mozambique Su Jian (left) and Prime Minister Carlos Agostinho do Rosario (right) met yesterday in Maputo
China is considering writing off already interest-free loans it has given Mozambique as a way of helping the country overcome its current economic crisis.
The Chinese government has backed the mooted concession with an option to construct an industrial park in the country, in alignment with the Mozambican government’s stated objective of promoting growth in the infrastructure sector.
Speaking to reporters yesterday in Maputo at the end of a meeting with Prime Minister Carlos Agostinho do Rosario, China’s ambassador in Maputo, Su Jian, noted that China had written off ten interest-free loans to Mozambique since 2001. Recently, US$5 million was written off, and the two sides are now preparing for more concessions.
Within the framework of bilateral cooperation, the two countries are now discussing the construction of an industrial park which will allow Chinese companies to transfer their production lines to Mozambique, the Chinese ambassador said.
Source: Folha de Maputo
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