China Favours The Caribbean With US$1 Billion Of Investment

caricom and chinese
Author

Kingsley Irish

Release Date

Thursday, September 15, 2011

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China is once again opening its purse to the Caribbean with the promise of US$1 billion in loans to support development projects in the region.

This news comes directly out of the third China-Caribbean Economic and Trade Cooperation Forum being held in Trinidad and Tobago. The announcement was made by the Vice Premier of China, Wang Oishan. According to Wang, the monies pledged will go towards supporting exports, scholarships and agriculture,'finance and investment,'trade,'environment, energy, culture, education, health, fisheries and tourism.

Wang stated,'"China will continue to support the Caribbean countries' efforts in developing their economies, improving people's livelihood, promoting the Caribbean regional integration process and playing an active role in international affairs." 'The money will be loaned from the China Development Bank.

The generosity of the Chinese towards the Caribbean also includes the offer for'2,500 Caribbean nationals to study in China. They have also'donated US$1 million to the Caribbean Development Fund. The Chinese will also assist in the construction of an early warning monitoring network for earthquakes and tsunamis in the region and provide the required training.

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