Botswana and China have signed a protocol under which the Chinese government exempted the Botswana government from payment of three interest-free loans, amounting to a total US$8 million.APA learned Friday that the protocol was signed by the Minister of Finance and Economic Development, Kenneth O. Matambo, and the ambassador of China to Botswana, Zhao Yanbo.

Speaking at the signing ceremony, Matambo said the exemption is in line with China’s undertaking during the Forum on China-Africa Cooperation (FOCAC) Summit held in Johannesburg in December 2015.

He said this amount covers loans that were extended to Botswana to finance the Railway Rehabilitation Project, and two loans which financed a Multi-purpose Youth Center.