Gov't drops China loan over Ts and Cs

Changing lanes: Government says its policy stance on Chinese loans has changed PIC: MORERI SEJAKGOMO
Changing lanes: Government says its policy stance on Chinese loans has changed PIC: MORERI SEJAKGOMO

Government has dropped a proposed loan for China to fund rehabilitation of the 300-kilometre Nata-Maun road, after the two sides deadlocked over the terms of the agreement.

BusinessWeek has learnt that one of the sticking points of the negotiations was over the choice of main contractor for the project. Negotiations had run from June and collapsed without agreement recently, it is understood.

China had provided a P3.4 million grant in May 2019 to fund the road’s feasibility study, in anticipation of negotiations towards the loan. Botswana had secured a pledge of P10.2 billion in concessional loans from China after government’s participation at the Forum for China Africa Cooperation in September 2018. The Chinese government had also written off P80 million in existing debt owed by Botswana.

Editor's Comment
Are police trigger-happy?

Unfortunately, that day turned sour for those who were shopping at Sefalana Cash and Carry in Gaborone West Industrial.The exchange of fire that ensued between members of the Botswana Police Service (BPS) and robbers who had allegedly robbed a G4S cash-in-transit vehicle left two civilians dead, three robbers struck down, and an undisclosed number of citizens wounded.One deceased civilian is reportedly an employee of the Citizen Entrepreneurial...

Have a Story? Send Us a tip
arrow up