CHINA WRITES OFF $70M DEBT
CHINESE GOVT CANCELS LEVY MWANAWASA STADIUM $70M DEBT
Ndola-11th July 2019
The government of the People’s Republic of China has announced that it has forgiven another debt owing totalling $70million.
Chinese ambassador to Zambia His Excellency 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 extended to the construction of the Levy Mwanawasa Stadium which cost over $70million to build.
The Levy Mwanawasa Stadium is a multi-purpose stadium located in Ndola, Zambia.
It 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.
The construction started in 2010 and was opened on 2nd June 2012 and christened Levy Mwanawasa Stadium in honour of Zambia’s 3rd president, the late Levy Patrick Mwanawasa who negotiated for it.
And Mr. Jie has reaffirmed his government continued support for all infrastructure projects being supported by his government.