News / National
Zimbabwe may lose out on Chinese funds
30 Nov 2018 at 09:24hrs | Views
China, a comprehensive strategic partner of Zimbabwe, feels its debt stricken ally has moved slowly towards seizing funding opportunities Beijing pledged at this year's Forum for China-Africa Co-operation (FOCAC) amounting to $60 billion to support new co-operation with Africa.
Chinese Acting Ambassador to Zimbabwe Zhao Baogang told Business Weekly in an interview that Harare had not done enough to bring forward a list of feasible and bankable projects to be considered for support under the $60 billion facility pledged by China at the FOCAC 2018 in Beijing.
Zimbabwe, whose economy remains fragile after years of downslide and battering from debilitating western sanctions, needs over $16 billion to revamp key infrastructure such as roads, rail system, airports and energy infrastructure, according to the African Development Bank.
Chinese Acting Ambassador to Zimbabwe Zhao Baogang told Business Weekly in an interview that Harare had not done enough to bring forward a list of feasible and bankable projects to be considered for support under the $60 billion facility pledged by China at the FOCAC 2018 in Beijing.
Zimbabwe, whose economy remains fragile after years of downslide and battering from debilitating western sanctions, needs over $16 billion to revamp key infrastructure such as roads, rail system, airports and energy infrastructure, according to the African Development Bank.
Source - Business Weekly
