China’s state banks to finance projects in Mozambique

21 June 2010

Beijing, China, 21 Jun – The last phase of the project to enlarge and modernise Maputo International Airport, budgeted at US$65 million, should get under way this year backed by Chinese funding, Mozambique’s AIM news agency has reported.

The amount “will be made available” by the Export-Import Bank of China (Exim Bank), an institution directly subordinated to the State Council (the Chinese government’s executive body). The bank’s vice-president, Zhu Hongjie, has met with visiting Mozambican Prime Minister Aires Ali, AIM reported on Friday.

The modernisation of Maputo airport is one of the three major development projects announced on Friday in Beijing, on the third day of Aires Ali’s trip to China.

AIM reported that another bank directly overseen by the Chinese State Council, the China Development Bank, will “make available” US$80 million to build a cement factory in Sofala province and US$20 million more for a cotton processing unit in Magude in souther Mozambique.

Aires Ali arrived in Beijing on Wednesday, accompanied by four ministers: Finance (Manuel Chang), Public Works and Housing (Cadmiel Muthemba), Transport and Communications (Paulo Zucula) and Mineral Resources (Esperança Bias).

On Saturday he travelled to Wuhan, the capital of Hubei province, which is twinned with Mozambique’s Gaza province. Today, Monday, he is scheduled to visit Expo 2010 in Shanghai.

In talks with Aires Ali, Chinese Premier Wen Jiabao said that “over the years, China has granted unconditional economic and technological aid to Mozambique” and pledged to continue helping the country improve the life of its people, China’s official news agency reported.

Mozambican Finance Minister Manuel Chang said in turn that China was ready to finance other projects in his country in coming years, adding that the Mozambican government would now present a set of projects to the Chinese government. (macauhub)