China's Industrial and Commercial Bank (ICBC) recently announced a new loan to Zambia of around $285 million to the poorly run ZESCO. The funds are mean to support a new inter-connector to link Zambia, Tanzania and Kenya allegedly is intended to, wait for it, "boost mineral exploration, agriculture and tourism". The loan will be repaid over 20 years, with a five-year grace period. Construction of the power line will start in November 2011 and will be done by China's TBEA. China always insists on using its companies. More detail via Reuters.
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