Botswana says China Agreed to Extend Loan, Cancel Debt

[To-Whose-Benefit?]

Reuters
September 8, 2018 / 12:17 PM / Updated 11 hours ago

[excerpt]

https://www.reuters.com/article/us-china-botswana-loans/botswana-says-china-agreed-to-extend-loan-cancel-debt-idUSKCN1LO0MT

GABORONE (Reuters) - China has agreed to extend a loan to Botswana for rail and road infrastructure as well as writing off some debt, Botswana’s President Mokgweetsi Masisi said on Saturday.

Speaking at the airport on his return from this week’s China-Africa forum in Beijing, Masisi said Botswana had made a pitch to China and “I am happy to report that, judging from what President Xi Jinping told me, we were successful”.

In addition to the loan and a debt cancellation of 80 million pula, China has also offered a 340 million pula ($31 million) grant, he said.

“We got a little bit more than just the loan,” he told reporters.

[To-Whose-Benefit?]

All out of the goodness of their pea picking little Communist hearts.

It's stuff like this that keeps Casino Security employed.

"Botswana is the world’s leading producer of diamonds by value. Chinese companies, mostly state owned, are largely into construction in Botswana such as dams and roads."