Malawi will not pay about K5.5 billion loan which was obtained from China, as the Chinese government has forgiven Malawi from repaying.
The sum was meant for the Karonga- Chitipa road and procurement of some Malawi Revenue Authority scanners.
Finance Minister Sosten Gwengwe says government will use the savings for budgetary support in various other needs.
This week China announced that it is forgiving 23 interest-free loans for 17 African countries in a bid to expand what they described as ‘win-win’ trade and infrastructure projects.
