Access Chinese loans, DA advises Govt
Tue, 27 Dec 2016 11:04:32 +0000
By Mukosela Kasalwe
DEMOCRACTIC Assembly president Maxwell Mwamba has urged the Government to consider accessing the China concession loan which he described to be more flexible and without any ‘strings attached’ compared to the World Bank.
In an interview yesterday, Mr Mwamba called on the Government to consider accessing the Chinese investment loan for economic reforms, stating that it had more flexible terms and did not have any strings attached as compared to the World Bank conditions.
He said that China and Zambia’s political as well as economical mutual relations needed to be maintained and further cemented, saying Chinese aid by contrast seemed to be supporting initiatives of the host country.
“Opposition Democratic Assembly president Maxwell Mwamba is calling for the continued maintenance of the China-Zambia relationship and regulation of this symbiotic partnership.
“We should view the Chinese investment as different from Western investment. The Chinese are not imposing the package of economic reform usually required by the World Bank under its conditionality provision.
“The Chinese aid by contrast comes without any strings attached and is seen to be supporting initiatives of the host nation,’’ Mr Mwamba said.
Mr Mwamba said that although the opposition party held a different perspective on governance, it was united in diversity and noted the benefits that could come from China engagement.
He observed that foreign direct investment given by the Chinese tended to be more particularly in the infrastructure development compared with others.
Mr Mwamba said that the coming of Chinese companies in the country mainly in the construction and mining industry had helped fill up the gap in terms of expertise and it had generally brought about cheap sources of goods and created employment for the Zambians.
He said that Chinese investment needed to be guided in order to maximise linkages with local suppliers as well as networking in the agro processing and the generation of electricity as they were doing in Kenya.
