The Chinese and the Zambian government on Friday launched a mega-housing project aimed at empowering local people with houses.
The Kingland City Housing Project is a public-private partnership project between Chinese firm Sun Share Investments Limited and the Zambia Air Force with an investment of 1.4 billion U.S. dollars. The project also involves a school and a police station.
Li Jie, Chinese Ambassador to Zamia said during the commissioning of the project that public-private partnerships mode was an effective way to solve the shortage of funds for infrastructure development.
"It is an internationally popular mode of infrastructure financing in recent years and has a great development prospect in the public service field and commercial development," he said
The project, according to the Chinese envoy, was a beneficial attempt to the cooperation between the two entities.
With the joint efforts of the Chinese and Zambian governments and enterprises, the development of cooperation in economy and trade between the two countries has been deepened, he added.
According to him, China's direct investment in Zambia maintained a constant growth with an increase of 470 million U.S. dollars in 2019, leading among African countries.
Zambian President Edgar Lungu said the project was a demonstration of what could happen when the public and private sector coordinate in delivering infrastructure projects.
Zambia, he said, needs efforts of various stakeholders to ensure sustained development and commended the developers of the housing project for their efforts.
The government, he said, will continue providing a conducive environment for the public sector and the private sector to collaborate in public-private partnership projects.
