Zambia cabinet approves $275 million Chinese housing loan - CNBC Africa

Zambia cabinet approves $275 million Chinese housing loan

Southern Africa

by Reuters 0

Zambia cabinet approves $275 million Chinese housing loan. Photo: Flickr

Zambia's cabinet has approved plans to borrow $275 million from China for the construction of housing units for its security wings, the presidency said in a statement on Tuesday.

Presidential spokesman Amos Chanda said the loan would provide resources for the project which is expected to ease housing shortage within Zambia's police, prisons, immigration department and intelligence department.

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