Zambian bank hails Chinese investment contribution to economic development
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. ■
Related articles
Kristin Cavallari, 37, ignores critics of her age
Kristin Cavallari is enjoying a romantic rendezvous with her much younger cowboy lover Mark Estes in2024-05-21China discloses tasks of Shenzhou
A press conference is held in Jiuquan Satellite Launch Center in northwest China on April 24, 2024.2024-05-21Panthers reach Eastern Conference finals for second straight year, eliminating Bruins in 6 games
BOSTON (AP) — Panthers coach Paul Maurice watched his team escape one breakaway after another and st2024-05-21China calls for strengthened flood control in Yangtze, Taihu Lake basins
Chen Min, vice minister of water resources, on Tuesday called for action to strengthen flood control2024-05-21Ship that caused Baltimore bridge collapse has been refloated
BALTIMORE (AP) — The container ship that caused the deadly collapse of Baltimore’s Francis Scott Key2024-05-21Chinese scientists breed new high
Chinese scientists have bred new high-quality pig strains, named Lansi pigs, an achievement to help2024-05-21
atest comment