Current location:Global Gazette news portal > style
Zambian bank hails Chinese investment contribution to economic development
Global Gazette news portal2024-05-21 18:45:11【style】4People have gathered around
IntroductionLUSAKA, April 6 (Xinhua) -- A Zambian bank has commended the contribution of Chinese investment and
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. ■
Address of this article:http://kenya.ekjotinstitute.com/html-10c699922.html
Very good!(38)
Previous: The Latest
Next: Nuggets blow 20
Related articles
- Biden says Brown v. Board of Education ruling was about more than education
- Minister: CPEC transforms Pakistan's development landscape
- China ready to take 'China
- Jelly Roll rocks the stage during his Stagecoach debut and invites T
- Biden says Brown v. Board of Education ruling was about more than education
- Cambodia commemorates 2 Chinese martyrs killed in peacekeeping mission 31 years ago
- China's industrial profits up 4.3% in Q1
- Renowned musicians Friendship Trio wow audiences in Shanghai
- Supreme Court declines to hear challenge to Maryland ban on rifles known as assault weapons
- Ashley Graham puts on a busty display and shows off her curves in a plunging bathing suit in Cannes
Popular articles
Recommended
Six killed in a 'foiled coup' in Congo, the army says
Interstate near Arizona
Israeli FM says 'will suspend' Rafah operation if hostage deal reached: Media
Owner of vintage bookstore in Syria encourages readers to keep passion alive
Brazil replaces injured goalkeeper Ederson in Copa America squad
Interstate near Arizona
Russian deputy defense minister detained on bribery charges
This Week: Consumer confidence, Fed policy statement, April jobs report
Links
- Strike takes place in Jordan to support Palestinian people in Gaza
- Sex crimes charges dropped against California Marine after missing teen found in barracks
- Supreme Court of U.S. Michigan keeps Trump on 2024 primary ballot
- World leaders must break deadly cycle of global warming at COP28 climate conference, warns UN chief
- Pakistan confirms making formal request to join BRICS
- Princesses Maria Carolina, 20, and Maria Chiara of Bourbon
- UN refugee agency calls for action to address climate change's effects on displaced population
- Brad Marchand caps Bruins' four
- Palestinian death toll rises to 22,438 in Gaza: ministry
- Stabbing at Sydney mall kills 6 before suspect is shot dead, police say