5 C
Alba Iulia
Monday, February 24, 2020

DBZ and China Bank sign $ 30 million loan for SMEs support

Economy DBZ and China Bank sign $ 30 million loan for SMEs support

dbz
The Development Bank of Zambia (DBZ) has signed a 30 million dollar loan agreement with the Chinese Development Bank.
The loan is meant to support small and medium enterprises (SMEs) in the country.

Speaking during the signing ceremony in Lusaka this afternoon, Chinese Ambassador to Zambia Yang Yoaming says SMEs play an important role in the development of any country.

Mr. Yoaming says no country can develop without the development of SMEs thus it is important that SMEs have access to finance to help them grow.

And DBZ Managing Director Jacob Lushinga says the loan will be repaid in 8 years at an interest rate of 5.5% per annum.
He says the targeted SMEs are those in the agriculture, mining and quarrying, manufacturing and tourism sectors.

And speaking after witnessing the signing ceremony, Finance Minister Alexander Chikwanda says he is hopeful that DBZ will exhaust the loan and use it for the intended purposes.

Mr Chikwanda says it is government’s hope that as many SMEs as possible will benefit from the loans so that they grow and contribute to the economic development of the nation.

[Read 83 times, 1 reads today]

1 COMMENT

  1. Chikwanda says he hopes the money will be used for intended purposes….
    Chikwanda knows the theives are waiting and their travel agents with booked flights around the globe for usless workshops. There is soooo much plunder in PF…

Comments are closed.

- Advertisement -
Loading...

Latest News

WEEKEND SCORECARD: Chipolopolo CHAN Group D Schedule in Full

Chipolopolo's full Group D fixture list at the 2020 CAF African Nations Championship (CHAN) tournament in Cameroon has been...

TIZ Welcomes Summoning of Health Minister by Anti-Corruption Commission on Corruption allegations

Transparency International Zambia has welcomed investigations by the Anti-Corruption Commission of the Minister of Health Dr. Chitalu Chilufya. TIZ President Reuben Lifuka says there...

Increase Taxes Applicable to Tobacco and Nicotine Products-CTPD

The Centre for Trade Policy and Development has called on Government through relevant agencies to conduct a review of the current tobacco taxation framework...

Lusambo insists gassing is politically motivated

Lusaka Province Minister Bowman Lusambo has reiterated that the gassing incidents currently happening in Zambia are politically motivated meant to dent the image of...

Euro bond payment of $750 million due soon, PMRC questions silence on Sinking Fund

The Policy Monitoring and Research Center has urged the Ministry of Finance to give regular updates to the nation on the Sinking Fund and...

More Articles In This Category

- Advertisement -
[Read 25 times, 1 reads today]