The Economic and Commercial Counsellor at the Chinese Embassy in Nigeria, Mr. Zhao Linxiang, has described as ridiculous, the US position on Chinese loans to Nigeria and African countries.
The US Secretary of State, Mr. Rex Tillerson, had cautioned African countries to 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 the manner Beijing structured loans to African governments.
Reacting, Zhao, at a news briefing in Abuja on Friday, said Chinese loans to African countries are aimed at implementing major China-Africa cooperation projects and promoting sustainable development on the continent.
“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.
He explained that African countries had begun accessing the loans and implementing planned projects.