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
Travis Kelce downs whiskey shot on slice of bread at Kelce Jam without Taylor Swift
Travis Kelce was spotted taking a whiskey shot from a slice of bread in true southern fashion as he2024-05-21Teenagers named as victims of Nelson off
Photo: 123rf.com2024-05-21FBI fears 'coordinated attack' on US homeland
Washington —A surge of confidence by supporters of the Islamic State terror group — reflected in a s2024-05-21Colorado reporter's expulsion from Republican gathering causes uproar
DENVER, COLORADO —Politicians and news outlets in Colorado expressed anger over the expulsion from a2024-05-21The unstoppable duo of Emma Stone and Yorgos Lanthimos
CANNES, France (AP) — Before a journalist has even lobbed a question, Emma Stone and Yorgos Lanthimo2024-05-21'Hardest Geezer' Russell Cook completes almost year
Russell Cook, aka the 'Hardest Geezer', completes his epic run. Photo: Russell Cook / X2024-05-21
atest comment