China Sinks $2,5 Billion Into Zimbabwe

Zimbabwe's_President_Emmerson_Mnangagwa
Zimbabwe’s President Emmerson Mnangagwa

The People’s Republic of China has advanced $2,5 billion on Zimbabwe, which makes Zimbabwe the highest recipient of Chinese investment on the Africa continent.

This was revealed by the charge d’affaires of the Chinese Embassy, Zhao Baogang at the 2019 Spring Festival Gala held in Harare on Sunday. Said, Zhao:

In one word, some $2,5 billion (US dollars) of loans, investments and grants have been provided by the Chinese government, financial institutions and enterprises to Zimbabwe, a much larger share than most other African countries.

Kariba South Expansion Project has been completed, adding 300MW power generation capacity to the national grid. We have launched a ground-breaking ceremony for the Hwange Thermal Power Station expansion project.

We have launched a ground-breaking ceremony for the Harare International Airport rehabilitation project. We have launched a ground-breaking ceremony for the construction of the new Parliament building project.

Zimbabwe will have the capacity to export electricity to earn the much needed hard currency very soon. We work, cook with the electricity from the Kariba South Expansion project financed by China Exim Bank. Everyone is closely connected with China-Zimbabwe cooperation.

So I want to say that we have to pay more attention to China’s development and try to find the opportunities for cooperation, the secrets and resources for Zimbabwe’s development can be found in China.

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