China and Botswana sign economic, energy deals

Published 11/21/2010, 08:17 AM
Updated 11/21/2010, 08:20 AM
GC
-

* China to offer Botswana $6 million for development

* Countries also signs infrastructure, energy agreement

GABORONE, Nov 21 (Reuters) - Chinese Vice President Xi Jinping on Sunday signed several economic deals with Botswana, the world's biggest diamond producer, including one offering the southern African country $6 million for development.

Xi, touted as China's next president, arrived in Botswana on Saturday, the last stop on his Africa tour, after visiting oil producer Angola, China's biggest African trading partner, and South Africa --Africa's biggest economy.

Vice President Mompati Merafhe and Xi signed three cooperation deals, including an Economic and Technical Cooperation agreement, under which China is to provide Botswana with aid worth 40 million RMB ($6 million), China's Xinhua news agency reported.

The two also signed an infrastructure and energy deal between the national utility Botswana Power Corporation and China Development Bank and Golden Concord Group, it said.

The other agreement was on financial projects between the Botswana government and the Export-Import Bank of China.

No monetary details were provided on the other two deals.

Xi on Wednesday signed an energy deal with South Africa in a visit aimed at obtaining minerals the Asian giant needs to fuel its blistering growth.

During his two-day visit, Xi is expected on Monday to tour Diamond Trading Company Botswana, which is jointly owned by the diamond-mining giant De Beers and the government of Botswana.

China's mineral diplomacy has been criticised for its secrecy and for bolstering governments that Western states accuse of human rights violations.

A senior World Bank executive said Chinese companies eyeing African mineral resources must stop making closed-door deals and become more transparent in their investments. (Writing by Olivia Kumwenda; editing by Mark Heinrich)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.