China In Talks To Offer $ 2 Billion Loan To South Sudan

South Sudan Foreign Affairs Minister Dr. Barnaba Benjamin Marial chats with the Chinese Special Representative for African Affairs Zhong Jianghua in Juba in August 2013. [File: Ajang Monychol]

Stephen Dhieu Dau, the South Sudanese Minister of Petroleum, Mining and Industry told reporters at the South Sudanese Capital, Juba, after a closed door meeting with the Chinese Ambassador to South Sudan, Ma Qiang.

“China also wanted to give the Republic of South Sudan $ 1 billion to $ 2 billion through the Exim bank of China,” Dau said, explaining that $ 40 million of the grant will be used to develop the oil and mining industry in the fledgling nation.

He said his government and China “are negotiating the terms of that loan which will be channeled basically to finance major infrastructure projects like roads, electricity, and also agriculture and investment in the potential industry like sugar and cement projects.”

Ma Qiang said the move is aimed at bettering relations of the two countries but more so to up grade the petroleum and mining industry in Sudan.

China is one of the largest investors in the South Sudan’s oil industry. Dhieu said the offer is one of the latest China’s support to South Sudan, commending it will offer China several investment opportunities in the country.

The Government of the People’s Republic of China had in June pledged to support efforts towards finding solutions to the oil problems between Sudan and South Sudan when China’s outgoing ambassador Li Zhiguo held a meeting with Dr. Benjamin Marial, then South Sudan’s Minister for Information and Broadcasting.

Be the first to comment

Leave a Reply

Your email address will not be published.


Confirm you are not a spammer! *