No national assert is collateral for Chinese loans – Siliya

Chief government spokesperson Dora Siliya has clarified that no national assets or firms have been used as collateral for any of the loans Zambia has contracted from China.

Ms. Siliya says the loans government has been acquiring from China are bilateral based.

Speaking at a media briefing held in Lusaka Ms. Siliya also maintained that Zambia has not defaulted on any external loans it got from China or any other foreign lenders.

Ms. Siliya who is also Minister of Information and Broadcasting Services, notes that government has not been borrowing for consumption but for construction purposes.

She states that as long as people’s needs are there, government will continue borrowing as it does not see anything wrong to borrow for development purposes.

Speaking at the same media briefing Communication and Transport Permanent Secretary Misheck Lungu also refuted assertions that government will mortgage the Kenneth Kaunda International Airport (KKIA).

Mr. Lungu says government has no intentions of mortgaging the Airport.