British Asia News Network
Sri Lanka: McHenry Venaani, the leader of the Namibian Opposition, has said that in order to avoid a situation similar to that in Sri Lanka and some African countries, the government must renegotiate foreign loans.
After a meeting with Chinese ambassador in Windhoek, Venaani said that the foreign loans Namibia has agreed to, especially those with China, are poorly structured and fail to benefit local communities regardless of the opportunities created.
“In general and in the African context, a lot of the loans from China have these tags that when they give you money, their companies must benefit from it, and our local industry and the small and medium enterprises (SMEs) are not being propelled,” he said. “Some of these loans do not address the local beatification process, and we are saying that China needs to open up and be truthful about their win-win situation.”
The Chinese Ambassador Zhang Yiming said that “because we have already developed”, China doesn’t have a hidden agenda with Namibia.