Zambian bank hails Chinese investment contribution to economic development
Time:2024-05-21 18:50:58 Source:businessViews(143)
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:Analysis: Larson enters conversation with Verstappen as best drivers in the world
Next:Cruise worker 'murders newborn son on board ship': Shocked co
You may also like
- Iran helicopter crash that killed President Raisi could reverberate across the Middle East
- Sergio Aguero's iconic title
- Bayer Leverkusen 2
- Atletico Madrid star reveals the footballers'
- Philippines blames China for loss of giant clams in disputed shoal and urges environmental inquiry
- Revealed: The startling number of English
- What kind of cancer did O.J. Simpson die from?
- 'The wheels have come off!': Steve McManaman delivers scathing assessment of Liverpool's dismal 3
- Burglar hurled stolen mobile phones at police from the top of 60ft high roof during nine