Chinese export-import bank funds Lesotho's telecom projects
Published on: 8th May 2008
Note -- this news article is more than a year old.
The Chinese Export, Import Bank has signed a loan agreement of nearly USD30 million with the Lesotho government and Telecom Lesotho in Maseru on Friday, to assist in the extension of Telecom's operations in the country.
Lesotho Finance Minister Timothy Thahane signed on behalf of the government and the Chinese ambassador here , Qiu Bohua, signed the deal on behalf of his government, as Chief Executive Officer of Telecom Lesotho , Anthony Carter, penned the accord on behalf of his company.
Thahane thanked China for the loan, saying the money is a soft loan extended to Lesotho through the ZTE Telecom of China.
"the Lesotho government will receive the money over a period of 20 years with a grace period of five years before re-paying the loan," he said.
Telecom Lesotho is the only company offering landline telecommunications in the country.