Loan scheme for bus drivers

The Zambian government has introduced a loan scheme in which bus drivers will be empowered with buses.


   The bus loan scheme will see over 1, 300 public and private service drivers become proprietors of buses, which are supplied by Higer Bus Company from China.
   Zambian President Michael Sata, who handed over the first two buses, said his administration was ready to empower and assist Zambians.
   The Chinese bus company has entered into an agreement with Zambia's state-run bank, the Development Bank of Zambia, which will enable drivers to acquire a 26-seater Higer bus at 45, 000 U S dollars on two per cent interest, payable in five years.
   Deputy Minister of Transport, Works and Supply Panji Kaunda said the government facilitated the bus loan scheme when a group of drivers approached his ministry.
   "The drivers complained that it is difficult for them to wait for their employers as they at times violate traffic rules just to meet the targeted cashing," he was quoted as saying by the Zambia Daily Mail on May 23.
    Kaunda said 80 per cent of the loan would be met by the Zambian bank while 20 per cent would be covered by Higer Bus Company.
   The sales manager for Higer Bus Company Jackie Wanga said the company was delighted to partner with the Zambian bank to improve the living standards of Zambians, and added that the company's obligations was to manufacture and ship the buses into the country. (Xinhua)

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