Chinese ambassador to Zambia Li Jie announced the development when he paid a courtesy call on Copperbelt Minister Japhen Mwakalombe that the debt is in relation to a loan extended to the construction of the Levy Mwanawasa Stadium which cost over $70million to build.
Vice President Inonge Wina said the gesture by China is a sign of good will that should be appreciated by all Zambians.
Mrs. Wina said this during the Vice President question time. She said the gesture has also shown that China appreciates the good leadership under the Patriotic Front Government and that China has accepted that their investment is safe in Zambia since they are willing to partner government in various other areas.
And China has given Zambia a grant amounting to US$30 million
Mrs. Wina has since challenged Zambians to minimise on scandalizing the Chinese Community as they shown true friendship leading to cancellation of debt.
In June, the Chinese government cancelled more than US$22 million as part of debt that Zambia owes the Asian country to reduce the debt burden.
And China has given Zambia a grant amounting to US$30 million towards support to various projects of development to accelerate industralisation and job creation agendas as espoused in the Seventh National Development Plan.