China emerges as Mozambique's largest creditor

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MAPUTO, Sept. 28 -- China emerged as Mozambique's main international financial creditor last year, extending loans worth 1.15 billion U.S. dollars, state media reported Saturday.

Radio Mozambique said the loans covered both soft loans and commercial ones. China funded six projects valued at 1.15 billion U.S. dollars last year.

The overall external debt of the Mozambican government stood at 1.92 billion U.S. dollars at the end of 2012, the report said, citing the ministry of finance.

Chinese projects in the country include various road and bridge constructions such as the ring road of the capital city Maputo.

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