Investment Updates News
- China to help finance Senegal's power project
Date: 13-Jun-2007 Sources: (People's Daily)
China is ready to help finance an electricity transmission and transformation project in Senegal, reports from the Senegalese capital of Dakar reaching Abidjan said Tuesday.
Under a deal signed Tuesday between the two countries in Dakar, the 370-million-RMB loan (over 48 million U.S. dollars) will be used to help the west African country build a 90,000-voltage transmission and transformation system in the capital.
Chinese Ambassador to Senegal Lu Shaye said at the signing ceremony that the project will greatly help improve Senegal's infrastructure.
Senegalese Minister of Economy and Finance Abdoulaye Diop echoed the ambassador's voice, expressed his appreciation for China's preferential loans, and said the aid will significantly benefit his country's electricity supply.
Since the two countries re-established diplomatic ties a year ago, both sides have jointly carried out a series of large-scale cooperation projects. The Chinese government has also cut down or written off debts owed by Senegal, according to the minister.
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