By Chrispin Inambao WINDHOEK Chinese benefaction to Namibia in particular held steadfast on Monday when President Hu Jintao announced a N$1-billion soft loan and also offered N$60 million in the form of an interest-free loan, a grant and dozens of scholarships. Hu made the announcement in Windhoek during the fifth leg of his marathon tour of eight African countries some of which have received substantial sums of money in aid while in the same vein benefiting from debt-cancellation from the Asian giant. Hu said during talks with President Hifikepunye Pohamba that China would further avail US$100 million in buyers’ credit and build youth-training centres in Namibia. Because Namibia is among the few African countries officially designated a tourism destination by the Chinese government, some of the money would go towards boosting its market share of the rapidly expanding Chinese tourism industry, particularly group tours. During the official talks on Monday that preceded the signing ceremony for the soft loans and other bilateral aid, Pohamba told his counterpart that Namibia has numerous opportunities for investment in the fields of agriculture, tourism, aquaculture, mining, energy, technology and infrastructure and human development. “In this regard, we are inviting Chinese entrepreneurs to come and form joint ventures and other business partnerships with their Namibian counterparts for the mutual benefit of both countries,” Pohamba said at the meeting held with Hu at a local hotel. He assured Chinese investors that they have nothing to fear because Namibia offers a conducive business environment in line with the Reciprocal Treaty on the Promotion and Protection of Investment signed by the two nations. China’s tremendous economic and social growth, elevating it to a global economic powerhouse, was also commended by President Pohamba who said Namibia “would like to emulate” the Asian nation’s successes and learn from “your tremendous experience”. “Namibia needs partners in the promotion and realization of industrial development, investment and local value addition which are all critical for the achievement of our national development goals as set out in our National Development Plans and Vision 2030,” the Head of State said at a meeting that included several cabinet ministers. He said the recent Beijing Summit of the Forum on China-Africa Cooperation reached common ground on major international political and economic issues, especially on the reform of the United Nations and the maintenance of international peace and security. “Namibia supports the China-Africa policy, which is based on peaceful co-existence and anchored on the values of sincerity, equality and mutual common development,” he said. And Namibia being a member of the Troika of the SADC Organ on Politics, Defence and Security, shall continue to support regional efforts aimed at conflict prevention. And equally important Pohamba reaffirmed his government’s full support “for the one-China policy and to reiterate our position that Taiwan is an integral part of China.” Hu said the cooperation between Namibia and China has been growing steadfastly in the fields of politics, economics, education, public health and culture. Since taking office in March 2005, Pohamba has actively promoted bilateral ties with China, and according to the news agency AP, trade between the two nations in the first 11 months of 2006 amounted to US$240 million, an increase of 103 percent from 2005. Hu, whose 130-strong delegation included his wife Liu Yongqing and several senior ministers and high-ranking officials, left yesterday morning for South Africa.