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Financial support at the heart of China plans for Zimbabwe development.
China is set to raise fund for Zimbabwe development. This funds which is worth US$2.1 billion will increase development aim as well as improve on the current exiting funds.
In 2018 alone, Zimbabwe benefited from different grant as well as the foreign direct investment (FDI). As China is the only country that has done most for Zimbabwe through provision of grants and loans.
China’s Deputy Ambassador to Zimbabwe Mr Zhao Baogang said ”Bilateral co-operation is very important. We are doing a lot, trying to help and in future we will do more than those countries that impose sanctions here.”
According to Baogang , last years alone, China availed US$2,1 billion grant for various projects. This project includes; Hwange Thermal Power Station US$ 1 billion, Kariba South extension over US$ 500 million, Harare (Robert Gabriel Mugabe) International Airport US$150 million and Victoria Falls International Airport US$150 million.
Baogang also feels that the US$487 million FDI which was injected into the FDI is still very low. He hope the government will fast track or resolve some of the impediments in the investment policies so that more FDI continues to pour.
Speaking during a Confucius Institute “Know China” conference, Professor Wu Xiaqin who was the guest honour said ”Fostering talent is also vital for our economic growth, but the fight against the vice of corruption is key for our development.”
However, University of Zimbabwe Vice Chancellor Professor Paul Mapfumo said this kind of interaction should make the ground fertile for prospects of empowerment.