Cabinet approves $65 million China loan

Cabinet has approved the contraction of a US$65 million loan from the Export-Import Bank of China.

Chief Government Spokesperson Chishimba Kambwili in a statement says the loan contraction was approved during the fourth special Cabinet meeting held at State House on Wednesday 25th March, 2015.

Mr Kambwili says $65 million loan will go towards the Zambia National Information and Communication Technology (ICT) Development Project known as Smart Zambia Phase I.

He says the project is an important initiative to implement the country’s ICT development planning, which will help enhance the overall development of the ICT industry.

Mr Kambwili explains that the project involves the construction of a national data center as well as the construction of first-class ICT schools to greatly improve the situation of ICT education in the country.