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Zim, China sign two co-operation agreements

by Staff Reporter
22 May 2013 at 11:57hrs | Views
Zimbabwe and China have signed two co-operation agreements at a ceremony witnessed by Vice President Joice Mujuru and the visiting Chinese Vice Premier Wang Yang.

Under the two agreements China will provide a grant of $16 million and an interest free loan of $16 million payable over five years.

The financial support will be used on agreed projects.

Water Resources and Infrastructural Development Minister Sipepa Nkomo signed on behalf of the government after Acting Minister of Finance Elton Mangoma unceremoniously left the signing ceremony while Chinese Deputy Minister of Commerce signed on behalf of China.

Zimbabwe and China also exchanged three acceptance letters for economic and technical cooperation for drilling of 136 boreholes and another for the feasibility study for the drilling of other 300 boreholes.

Mines and Mining Development Minister Obert Mpofu also exchanged a signed agreement with the Chinese Deputy Minister of Commerce.

The agreement is for the geo-physical survey project to be done in Harare and Gweru earlier on.

Source - zbc