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‘Corrupt government? You voted for them!’ says China at Africa summit

BEIJING: As President Xi Jinping gathered together leaders from almost all countries of Africa for a summit in Beijing in recent days, some former Chinese officials and state media were busy mounting an unusually strong defense of China’s role in the continent. China has long bristled at accusations, mostly from Western nations, that it is solely interested in Africa’s raw materials, and that its no-strings-attached approach to loans and aid has only encouraged graft and brought unsustainably high debt. At the few news…

ADB to loan $300mn for public sector entreprises reforms

ISLAMABAD: Asian Development Bank (ADB) will provide loan worth US $300 million for Public Sector Enterprises Reform Program (subprogram-2). The loan agreement was signed by Mr. Tariq Mahmood Pasha, Secretary Economic Affairs Division (EAD) and Ms. Xiaohong Yang, Country Director Asian Development Bank. The subprogram-2 of the Public Sector Enterprises Reform Program will help the government to achieve and sustain reform initiatives aimed at enhancing the performance of public sector enterprises by improving the…