China blasts US for warning Nigeria, others over its loans - Risingsuntv

Mr Zhao Linxiang, the Economic and Commercial
Counsellor at the Chinese Embassy in Nigeria, on Friday in
Abuja said the US position on Chinese loans to Nigeria
and African countries “is ridiculous”.





The US Secretary of State, Rex Tillerson, had said on
Thursday that African countries should be careful not to
forfeit their sovereignty when they accept loans from
China.


Tillerson, who is on his first diplomatic trip to the
continent, also said Chinese investments “do not bring
significant job creation locally”.
He further criticised how Beijing structured loans to
African governments.
Reacting, Zhao, at a news briefing in Abuja, said the
Chinese loans to Africa were aimed at implementing major
China-Africa cooperation projects and promoting
sustainable development in the continent.
He explained that African countries had begun accessing
the loans and implementing planned projects.




“African people should know the role the Chinese loans
play in your economy. That is the most important thing.


“Except the Chinese Government, which other government
provides loans to African countries without critical
conditions? No Western country does that.


“How can they say they suspect Chinese loans. It is
ridiculous. Without funds, how can you develop a country?
“At the beginning of our opening up to the world, 30 or 40
years ago, we opened our doors to other countries and we
borrowed from other countries,” Zhao said.






The envoy added that China-Africa relations allowed for
win-win benefits for both parties.