Zambian bank hails Chinese investment contribution to economic development
Release time：2024-05-21 10:30:51 Source：Planet Pages news portal
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：Pentagon vows to keep weapons moving to Ukraine as Kyiv faces a renewed assault by Russia
- Next：Who is Jacob Zuma, the former South African president disqualified from next week's election?
Related articles
- Hollywood star Shia LaBeouf is spotted on the streets of Gavin and Stacey's hometown Barry
- China accelerates AI development to build AI innovation center
- 'Small Zoo' in Qingdao Welfare House Brightens Children's Life
- Wuzhou Juyan Tea Industry Booms in E China's Zhejiang
- Brazil replaces injured goalkeeper Ederson in Copa America squad
- Promoting Harmony Within Families
- Crackdown Targets Women, Child Trafficking
- Smart Agricultural Platform Improves Production Efficiency in Central China
- Ship that caused Baltimore bridge collapse has been refloated
- Boeing plane makes emergency landing after engine cover falls off
- Philippines blames China for loss of giant clams in disputed shoal and urges environmental inquiry
- China Launches Student Safety Education Campaign
- District Requires Infringements on Women's Rights, Interests Be Reported
- Young Entrepreneur Develops Persimmon Businesses, Helps Rural Women Increase Incomes
- Celebrity birthdays for the week of May 26
- Wuzhou Juyan Tea Industry Booms in E China's Zhejiang
- People Pay Tribute to Deceased Ahead of Qingming Festival in Beijing
- Boeing plane makes emergency landing after engine cover falls off
- The fightback begins: Boss of London's Queen Mary University tells pro
- 1 dead, 4 wounded after shooting at Nashville restaurant in US
Random recommendation
- Copyright © 2024 Powered by Zambian bank hails Chinese investment contribution to economic development ,Planet Pages news portal sitemap