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HomeAfricaMali: China gives Mali 12b CFAF to develop socioeconomic sector

Mali: China gives Mali 12b CFAF to develop socioeconomic sector

China has given Mali 12 billion CFAF (US$25.1 million) and an interest-free loan of 4 billion CFAF (US$8.3 million) to develop the country’s socioeconomic sector.

The agreement for the grant was signed in the Malian capital, Bamako, Monday by Mali’s Minister of Foreign affairs and International Cooperation Zahabi Ould Sidy Mohamed and the Chinese Ambassador to Mali Cao Zhongming.

The funds are meant for the building of a university campus in Kabala (near Bamako) on the Bamako-Segou road, the hydro-electric dam of Gouina and other priority projects that will be identified by the Malian government.

The grant and loan come five months after China gave Mali 16 billion CFAF (US$33.5 million) for various development projects in Mali.

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