Capital Injection

来源 :CHINAFRICA | 被引量 : 0次 | 上传用户:zenme123
下载到本地 , 更方便阅读
声明 : 本文档内容版权归属内容提供方 , 如果您对本文有版权争议 , 可与客服联系进行内容授权或下架
论文部分内容阅读
  IT was a long time coming, but Chinese President Xi Jinping’s visit to Zimbabwe was well worth the wait, with over $1 billion earmarked for the southern African nation’s energy and telecommunication sectors to kickstart its economic recovery.
  Both Xi and his Zimbabwean host, President Robert Mugabe, had set the stage, ahead of the two-day state visit on December 1-2,2015, with statements which underlined the significance of the event - the first by a Chinese head of state since then Chinese President Jiang Zemin’s trip in 1996.
  “We will work with Zimbabwe and all other friendly African nations to pave a broader and more solid road of mutual benefit and common development for China and Africa,” Xi said in his statement, which was widely quoted in the Zimbabwean media ahead of his visit.“Zimbabwe is making vigorous efforts to promote the Zimbabwe Agenda for Sustainable Socio-economic Transformation and achieve economic independence and self-reliant sustainable development.”
  For his part, Mugabe said, “Our friendship is now much more than that [mere friendship] - there being economic agreements where China will assist Zimbabwe to develop economically.”
  Zimbabwe’s economy has been hit hard by a crippling liquidity crunch, energy and power shortages, and closure of industries, which has spawned high unemployment. The Zimbabwe Congress of Trade Unions estimates the unemployment rate to be more than 85 percent. Zimbabwe had been seeking more than just friendship from its long-standing, “all-weather friend” China, that had provided support for the anti-colonial struggle that culminated in independence from British rule 35 years ago in 1980.
  And Xi’s visit delivered just that.
  The biggest chunk of the loan from China will go into refurbishment and expansion of the Hwange Thermal Power Station in Zimbabwe’s Matabeleland North Province to boost power generation, which is vital to the resuscitation of industries.
  In a press statement, Zimbabwe’s Finance Minister Patrick Chinamasa confirmed the signing of this and other agreements on December 2, 2015. Chinamasa said the Export-Import Bank of China (China Exim Bank) will provide concessionary funding for the engineering, procurement and construction of the Hwange power station expansion project and for upgrading TelOne, the state-owned provider of fixed telephone line service.
  Chinamasa said with respect to Hwange, China Exim Bank will provide a soft loan of $999.7 million at a concessionary rate of 2 percent interest per annum to be repaid over 20 years. On completion of the project, 600 MW generating capacity will be added to Zimbabwe’s national electricity grid, which will help significantly reduce the power deficit in the country. Zimbabwe is currently said to have about 1,000 MW in its generating capacity against a demand of 2,200 MW. This has resulted in extensive power blackouts countrywide.   The minister also said a loan of $98.6 million, at the same concessionary rate, will be extended to finance TelOne’s backbone network and broadband project. The loans will take effect in the first half of 2016.
  And it was not all about loans, as China also awarded the Zimbabwean Government a $62.4-million grant for the construction of a new parliament building and a pharmaceutical warehouse. The current parliament house has become too small to accommodate the over 300 legislators, up from less than 40 during the pre-independence days.
  Other deals include agreements on aviation and infrastructure development. The leaders also consented to facilitate cooperation on tax administration between their two countries.
  Xi’s visit and the signing of the agreements bring to a successful conclusion efforts to secure funding to support Zimbabwe’s recovery projects in various sectors. The efforts had begun with Mugabe and Chinamasa’s visit to China in 2014. CA
  (Reporting from Zimbabwe)
其他文献
THE Johannesburg Summit of the Forum on China-Africa Cooperation (FOCAC) in South Africa on December 4-5 will be a historic event. The summit, marking the 15th anniversary of the founding of FOCAC, wi
期刊
there are very few cross-regional cooperations that have inspired so much intellectual interrogation and political concern as the China-Africa relationship.  Though not new and rooted in the history o
期刊
Dr. Adams Bodomo dislikes the phrase “SinoAfrican.” “It’s a question of symmetry and focus,”the professor of African Studies at the University of Vienna explained carefully from his office in Austria.
期刊
Message From President Xi Jinping on the Special Issue of ChinAfrica Marking the Johannesburg Summit of the Forum on China-Africa Cooperation  习近平主席给《中国与非洲》杂志“中非合作论坛约翰内斯堡峰会专刊”的致辞  As the Johannesburg
期刊
AfricA is much closer to china than people think. There is a little bit of Africa in Songzhuang, a town in suburban Beijing’s Tongzhou District, where the African Art Village came up last year. The sp
期刊
China has stressed that it will continue with reforms and strengthen the structure of its supply front to increase the quality and efficiency of the supply system and provide a growth impetus for sust
期刊
Yang guizhi, a teacher at Tianjin University of Technology and Education (TUTE) in north China, regards 2009 as a watershed in her career. In that year, she and another 11 colleagues went to Ethiopia
期刊
On a farm in Marirangwe in suburban harare, an octogenarian dairy farmer watched Chinese agricultural expert Liu Xiaohui spellbound as he operated a mobile milking machine.  Though a newfangled contra
期刊
Wang Lihui, head nurse at the China-aided Ebola diagnosis and treatment center in Liberian capital Monrovia, will never forget that incident last winter when she and her team battled through the night
期刊
THE last 30 years have witnessed a growing China-Africa engagement with positive outcomes for both sides. China’s economy has grown significantly, while the World Bank has confirmed that China’s inter
期刊