Caribbean360: China pledges billion dollar loan to Caribbean

China pledges billion dollar loan to Caribbean
================================================================================
Chris Hoyos on 14/09/2011 10:18:00
 
GEORGETOWN, Guyana, Wednesday September 14, 2011 – The Business Conference of
the third China-Caribbean Economic and Trade Cooperation Forum in Trinidad and
Tobago has brought promising results with China committing finances to support
regional governments, up exports, offer scholarships and fortify agriculture.
Chinese vice Premier Wang Qishan has pledged US$1billion of preferential loans
to support the economic development of the region.
He said the Chinese government will further deepen China-Caribbean cooperation
in such areas as finance and investment, capacity building, environmental
protection, new energy, culture, education, health, trade, tourism as well as
agriculture and fishery.
In finance and investment, the China Development Bank will set up US$1billion in
special business loans to finance infrastructure.
China will also donate US$1 million to the Caribbean Development Fund. In
capacity building, the Chinese side will offer training courses for no less than
2,500 Caribbean nationals and 30 at the postgraduate level to study in China. 
The Asian giant will also help build an early warning monitoring network for
earthquakes and tsunamis and provide training for disaster reduction and
prevention.
"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," Wang
said.
The visiting Chinese official said Beijing also wanted to discuss and sign a
protection agreement with the Caribbean to promote two -way investments.
In recent years, China-Caribbean relations have maintained good momentum with
frequent high-level exchanges, deepened mutual political trust, and fruitful
cooperation in trade, investment, tourism, agriculture, science and technology,
and infrastructure, he said.
Over the last six years, China-Caribbean cooperation has moved on the fast
track, the Chinese vice premier said, adding that bilateral trade, increased by
an annual average of 24 percent, reaching US$7.2 billion in 2010.
The China-Caribbean Economic and Trade Cooperation Forum is the highest level of
economic and trade dialogue mechanism between the two sides, whose mission is to
facilitate economic and trade cooperation for common development. The first two
were held in Jamaica’s capital in February 2005 and in Xiamen, China, in
September 2007. Click here to receive free news bulletins via email from
Caribbean360. (View sample)