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China Cancels Part of Mozambique's Debt
China has written off 22 million US dollars of Mozambique's debt, Sun Zhenyu, Chinese vice-minister of Foreign Trade and Economic Cooperation, announced Wednesday in Maputo.
Speaking at a press briefing, Sun said that China and Mozambique Tuesday signed a protocol to write off 69 percent of Mozambique's debt to China as recorded by November 1999.
This protocol is the implementation of China's pledge made during the China-Africa ministerial forum, which took place in Beijing last year, Sun said.
On Tuesday, Sun and Mozambican Minister of Planning and Finance Luisa Diogo also signed an agreement on the promotion and reciprocal protection of investments, aimed at encouraging and giving guarantees to investments in both countries, according to the vice-minister.
Sun arrived here on Monday for a two-day visit to Mozambique.
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