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PostPosted: 19th October 2018, 05:51    Post subject: These days, nurses tend to be the reflective Reply with quote

HARARE Cheap Donovan Smith Jersey , Sept. 10 (Xinhua) -- Zimbabwe's Finance Minister Patrick Chinamasa said Wednesday that Zimbabwe is on track to secure more Chinese funding to bankroll infrastructure projects and the government is working to facilitate private firms, not just big state firms, to tap into that resources with bankable projects.

Chinamasa made the comments at a business forum held after agreements on "mega-projects", as he described, were signed by Zimbabwe and China during President Robert Mugabe's visit to China.

"There is appetite to do business in Zimbabwe on the basis of a concrete political friendship between the two countries Cheap Noah Spence Jersey ," Chinamasa said. "So we want to exploit that friendship commercially."

Chinamasa said the Zimbabwean government had agreed with China's state insurer China Export and Credit Insurance Corporation, SINOSURE, on a framework that will enable Zimbabwe's private sector to access funding from both state and non-state Chinese financial institutions, including the Export and Import Bank of China (China Exim Bank), China Development Bank Cheap Vernon Hargreaves III Jersey , and Industrial and Commercial Bank of China.

A delegation from Sinosure was expected in Zimbabwe next week to follow up on the issue, the minister said.

Chinamasa said some of the cooperation agreements signed include a 290-million-U.S.-dollars loan for the network upgrading of Zimbabwean state telecom company NetOne. The project is undertaken by Chinese telecom giant Huawei Technologies Co. Ltd. with the loan, on preferential terms, being provided by China Exim Bank.

The finance minister said another loan worth 98 million U.S. dollars was promised for fiber optic network expansion by state fixed telephone operator TelOne.

The government-to-government deals also include a 150-million- yuan (or 24 million U.S. dollars) grant for development of social infrastructure in resettlement areas, procurement of locomotives for the railway company Cheap Kendell Beckwith Jersey , digitalization of state broadcaster, food aid and irrigation infrastructure for about 20,000 hectares of land and rehabilitation of the state grain procurer.

China and Zimbabwe built strong ties during Zimbabwe's liberation struggle and over the years the two countries have managed to maintain this cordial relationship.

In recent years, China has emerged as Zimbabwe's top source of foreign direct investment. Chinese businesses are involved in mining, manufacturing Cheap Chris Godwin Jersey , agriculture, and infrastructure developments.

Zimbabwe's economy is projected to grow by 3.1 percent in 2014, the slowest pace in the past four years, officials say, explaining that new external funding is key to kick-start the ailing economy before the government can manage to pay off the debt.

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