Wed, 14 Feb 2018 07:54:44 +0000 By CHARLES MUSONDA GOVERNMENT will now source financing directly from Chinese banks and not through contractors. The move will reduce the cost of borrowing for developmental programmes. This is one of the resolutions Cabinet made at its second meeting chaired by President Lungu at State House on Monday. According to a statement issued by Special Assistant to the President for Press and Public Relations Amos Chanda, this is in line with Cabinet’s continued pursuit of better living standards of the people in line with the Patriotic Front manifesto. “Cabinet approved the restructuring of the bilateral debt and bilateral cooperation with the Chinese Government in line with Cabinet’s earlier decision made at its 20th meeting held on 6th November, 2017, where the Minister of Finance was directed to engage the Chinese Government and other financiers to review all pipeline projects and to re-package the outstanding loans so as to re-align […]
