Zambian President Levy Mwanawasa said the just ended Beijing Summit of the Forum on China-Africa Cooperation held on Nov. 4-5 is highly beneficial to the economic success and development of Zambia.

Mwanawasa told a news briefing Tuesday at Beijing Hotel that his country will benefit from the summit through the financial resources China has pledged to pour into Africa, Zambia National Broadcasting Corporation reported.

Mwanawasa hailed the government of China for initiating an aid package to enhance Africa's economic development. Under the package, china has written off a substantial amount of Zambia's debt.

Mwanawasa said the Tanzania-Zambia railway debt to china has automatically fallen off as a result of the Chinese gesture.

He said Zambia as a highly indebted poor country is also eligible to benefit from the 5 billion U.S. dollars in preferential loans and credits to Africa which china will provide.

The president said that China's continued support to Zambia is a true reflection of the warm existing relationship between the two countries.

Source: Xinhua