Zambian bank hails Chinese investment contribution to economic development
Time:2024-05-21 08:55:48 Source:healthViews(143)
LUSAKA, April 6 (Xinhua) -- A Zambian bank has commended the contribution of Chinese investment and businesses to the country's economic development.
Zambia National Commercial Bank (Zanaco) PLC said investment figures show that Chinese investment and businesses were playing a vital role in the country's economy, contributing significantly to growth, job creation and infrastructure development.
"The partnerships between Chinese companies and Zambian entities have fostered economic development and enhanced trade relations between our two nations," said Mukwandi Chibesakunda, the bank's chief executive officer, while hosting dinner for its Chinese clients on Friday.
The bank, she said, recognizes the importance of the partnership and was committed to supporting Chinese businesses in Zambia to thrive.
According to her, Chinese investments have not only contributed to fostering economic development but have also resulted in skills and technological transfer.
The bank, she noted, currently has a total of 219 Chinese companies banking with it across the business corporate and investment banking and business banking with a total 66 corporate accounts.
"In addition, our total loan book in the Chinese business currently stands at 176.7 million U.S. dollars with most active participation from manufacturing, agriculture, mining, and transport sectors," she added. ■
Previous:California congressman urges closer consultation with tribes on offshore wind
Next:The fightback begins: Boss of London's Queen Mary University tells pro
You may also like
- Who is Jacob Zuma, the former South African president disqualified from next week's election?
- Your morning coffee may be hundreds of thousands of years old
- Nation aims to create over 12 million new jobs
- The Philippine president says he won't give US access to more local military bases
- Shooting injures 2 at Missouri high school graduation ceremony
- Fighter jets fire at targets in live
- Lang Lang becomes 1st Chinese musician to receive Hollywood Walk of Fame star
- Death toll from Moscow terror attack rises to 93
- Uber and Lyft say they'll stay in Minnesota after Legislature passes driver pay compromise