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*China withholds $70m for upgrading Harare's water and sewage works, poor repayment record cited* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?qx The China Export-Import Bank which signed a $144 million loan in 2013, to fund the upgrade of the Harare water and sewage works, has stopped releasing funds with another $70 million still expected. The Chinese have reportedly been frustrated by the government’s poor debt repayment record. Part of the audited financials for the year-ended December 2016, for the City of Harare read: ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* *LATEST: itel S24 (128) $124; S24 (256GB) $159* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- > Disbursements from Exim Bank of China have since ceased, with the total disbursements received amounting to $68 612 741. > In addition to the cessation of disbursements, subsequent invoices of work done by China Mechanical Engineering Corporation (CMEC) amounting to $23 979 493 have been received and however not acknowledged by Exim Bank of China in its latest loan statement. Harare’s water supply infrastructure was upgraded to supply 1,5 million people in 1994 and much of it is over 60 years old, well above the recommended 15 years. More: Financial Gazette _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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