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(NYASATIMES, XINHUA) Malawi, China sign pact for two major projects

Malawi, China sign pact for two major projects
By Nyasa Times
Published: September 9, 2009

Malawi’s dream of having ultra-modern international conference center and a five-star hotel in the coming three years have come closer to fruition following Tuesday’s signing of a pact between China and the Southern African nation.

The two countries signed a memorandum of understanding in the Malawian capital of Lilongwe through which Malawi will borrow about 92.3 million U.S. dollars from the Export-Import Bank of China for the construction of the two major projects that would completely change the face of Malawi’s capital.

The Malawi National Assembly approved the loan facility in June, authorizing the government to borrow the funds to finance the construction of the International Conference Center and a five- star hotel alongside it.

Malawi Finance Minister Ken Kandodo (pictured) who signed the pact on behalf of the government, said the two projects were some of the activities to be carried out pursuant to the framework of cooperation between Lilongwe and Beijing in support of Malawi’s economic and social development agenda.

“Once this project is completed, Malawi will now have the capacity to ably host huge international conferences and meetings and the projects will also boost the country’s tourism sector,” Kandodo said.

The minister commended China for taking a keen interest in supporting Malawi’s efforts of developing the country through various multi-million U.S. dollar ventures.

On his part, Chinese Ambassador to Malawi Lin Songtian expressed his happiness that the projects had now taken off with the signing of the memorandum by the governments of the countries.

Lin, who signed the pact on behalf of the Chinese government, disclosed that contractors who would build the conference center and the hotel were already set to embark on the project.

“Construction equipment for the two projects has already been assembled and is awaiting shipment to Malawi. The equipment should be here in the coming three months,” said the Chinese ambassador.–Xinhua

Labels: CHINA, MALAWI

posted by MrK @ 5:00 PM