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China emerges as Mozambique's largest creditor

Maputo, Sep 29 (IANS) China emerged as Mozambique\'s main international financial creditor last year, having given loans worth $1.15 billion, Xinhua reported Saturday.

Published: 29th September 2013 11:30 AM  |   Last Updated: 29th September 2013 11:30 AM   |  A+A-

Maputo, Sep 29 (IANS) China emerged as Mozambique's main international financial creditor last year, having given loans worth $1.15 billion, Xinhua reported Saturday.

According to Radio Mozambique, the loans covered both soft loans and commercial ones. China funded six projects valued at $1.15 billion last year.

The overall external debt of the Mozambican government stood at $1.92 billion at the end of 2012, it said citing ministry of finance.

Chinese projects in Mozabique include various road and bridge constructions such as the ring road of the capital city Maputo.

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