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
- Toni Kroos shared a touching moment with Real Madrid fans as he enjoyed a fairytale end to his club2024-06-03
Antique book archive inaugurated in Beijing
An archive with a collection of more than 40,000 antique books has been inaugurated in Beijing.The a2024-06-03China releases reports on budgets, national economic and social development plans
Two reports approved Monday at the second session of the 14th National People's Congress were re2024-06-03Lorenzen goes 5 innings in Texas debut as Rangers blank Tigers 1
DETROIT (AP) — Michael Lorenzen pitched five spotless innings in his Texas debut and three relievers2024-06-03Disruptions at University of Chicago graduation as school withholds 4 diplomas over protests
CHICAGO (AP) — Dozens of students protesting the war in Gaza walked out of the University of Chicago2024-06-03Xi meets National Assembly of Vietnam chairman, urges strong sense of community with shared future
Chinese President Xi Jinping meets with Chairman of the National Assembly of Vietnam Vuong Dinh Hue2024-06-03
atest comment