Niger

01.04.11 Provide loans for uranium development in Niger

Friday, 01 April 2011 00:00

April 1st—Niger government said, they have received 650 million yuan preferential loans from the Export-Import Bank of China for development of Azelik uranium.
On Thursday, the government statement said through State-owned television station: Cabinet meeting on Thursday approved the value of 6.5billion loan agreement with Export-Import Bank of China. This agreement is used to develop Azelik uranium.
Niger and China National Nuclear Corporation set up joint venture—Somina in 2007 for development of Azelik uranium.
Allegedly, it has 15 years to pay off loans, and has a grace period of five years, the interest rate is 2%.
Source: cn.reuters.com