Mohale FM The government of the People’s Republic of China has waived loans worth two hundred and fourteen million, four hundred and forty-six thousand maloti (M214.446 million) owed by Lesotho, in a ceremony held in Maseru today.
Speaking at the signing of the agreement, the Minister of Finance and Development Planning, Dr. Rets’elisitsoe Matlanyane, said the gesture reflects the long-standing friendship between the two nations and their continued cooperation in advancing development.
Dr. Matlanyane explained that the loans were originally due for repayment at the end of December 2024. Of the total amount, one hundred and nineteen million, eight hundred and five thousand maloti (M119.805 million) had been allocated for the refurbishment of the ’Manthabiseng Convention Centre, while ninety-five million, eight hundred and four thousand maloti (M95.804 million) funded the Lesotho Juncao mushroom cultivation project.
She expressed gratitude to China, noting that the relief comes at a crucial time amid challenging global economic conditions.
Meanwhile, Chinese Ambassador to Lesotho, His Excellency Yang Xiaokun, said the move fulfils a commitment made during the Forum on China-Africa Cooperation (FOCAC) held in Beijing in September 2024. At the summit, Chinese President Xi Jinping pledged that China would cancel interest-free intergovernmental loans due by the end of 2024 for least developed African countries with diplomatic ties to China.
Ambassador Yang added that China remains committed to addressing the real needs and development priorities of its African partners.
