South Sudan granted $50 million loan by China
August 30th 2018 (Nyamilepedia) – South Sudan has been loaned 300 Chinese Yuan ($50 million) by the Chinese government as part of developmental pledges by the communist nation.
President Salva Kiir is on a state visit to the People’s Republic of China to participate in an Afro-Chinese summit which is also attended by many African leaders.
In a statement seen by the Nyamilepedia, the South Sudan Presidential Press Unit (SSPPU) has announced the pledge by one of state banks in China.
“China Exim Bank pledge a concessional grant of 300 millions Yuan equivalent to 50 millions US dollars for South Sudan developmental projects,” said the statement seen by the Nyamilepedia.
The statement said the $50 million loan will be used for the construction of economic lifeline road between Nadapal, Kapoeta, Tori, Juba, Terekeka, Yirol and Rumbek.
“President Salva Kiir secured 50 millions dollars for the construction of economic lifeline road from Nadapal- Kapoita-Torit- Juba- Terkeka- Yirol to Rumble, as one project,” the statement said.
According to the Presidential Press Unit, the head of the Chinese Exim Bank, Mrs. Hu Xiaolian expressed the company’s interested in implementing all the National projects in South Sudan.
For his part, President Salva Kiir Mayardit reiterated the government’s commitment in ensuring that the priority is road construction to connect all the major towns in the Country.