Saturday 28 November 2020
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scmp - 30 days ago

Zambia agrees debt relief deal with China Development Bank

Zambia has secured an agreement with China Development Bank (CDB) to defer its debt repayments to help it weather the impact of the coronavirus on its economy.The deal relates to a loan facility insured by the state-owned China Export Credit Insurance Corporation.“Under the terms of our agreement with CDB, the interest and principal due on October 25 will be deferred,” said Fredson Yamba, Zambia’s treasury secretary on Wednesday.The interest payment would become payable on April 25, while the…


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