The People’s Republic of China on Monday signed a $5 million partial debt cancellation facility with the Malawi Government.
The signing of the agreement follows the announcement of the package by China last year.
During the Forum on China-Africa Cooperation Conference, held virtually in August last year, Chinese Foreign Minister Wang Yi said the Chinese Government has waived 23 interest-free loans for 17 African countries.
Briefing reporters in Lilongwe on Monday, Chinese Ambassador to Malawi Long Zhou said the waiver of the relevant debts of Malawi can effectively help Malawi reduce its debt burden, improve its investment environment and seek more international support, so as to achieve a steady recovery of its economy.
On his part, the Finance Minister Hon Sosten Alfred Gwengwe MP hailed the People’s Republic of China for the partial debt cancellation.
DPP Blues Rebels Brings Division In
The way Charles Mchacha is castigating the Leader of Opposition in Parliament, Hon Kondwani Nankhumwa, is just testimony enough that Read more
Malawi Freedom Network advice President Banda to fight corruption
If you thought Malawians are lazy people, I bet you a Dinosaur, think twice and you will know, check in Read more
Malawi Government Faulted Over Arrests of Coup Suspects
The recent arrest in Malawi of three opposition politicians accused of planning to unseat President Peter Mutharika is dissent from Read more
Allegations of a coup plot sour diplomatic ties
The US embassy has denied involvement in an alleged plot to overthrow the president, Peter Mutharika. Analysis Media reports that Read more