China Cancels Debt for $70 Million Levy Stadium

The Chinese government has announced the cancellation of another debt owed by Zambia totalling $70 million.

Chinese Ambassador to Zambia Li Jie announced the development when he paid a courtesy call on Copperbelt Minister Japhen Mwakalombe at the provincial office in Ndola.

He said the debt is in relation to a loan obtained by Zambia for the construction of the multi-purpose Levy Mwanawasa Stadium in Ndola which cost over $70 million to build.

Levy Mwanawasa Stadium, named after third president Levy Mwanawasa, is used mostly for football matches and has a capacity of 49,800 people.

It is situated on T3 High-way well known as Ndola- Kitwe dual carriageway.

And Ambassador Li has reaffirmed his government’s continued commitment to all infrastructure projects being supported by his country.

News source: Zambia Reports

Add a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.