China to invest US$1b in Caribbean through loans
PORT-OF-SPAIN, Trinidad (AP) — China says it will provide up to US$1 billion in loans to Caribbean countries to help bolster its economic relationship with the region.
Chinese Vice Premier Wang Qishan says he wants to see the implementation of more projects that focus on finance, infrastructure and tourism.
Guyana’s government said yesterday that China has pledged to give the South American country US$4.7 million.
China has stepped up its investments in the Caribbean as it seeks to win the diplomatic recognition of several countries over rival Taiwan.
Wang made the announcement in Trinidad late Monday at a two-day China-Caribbean economic forum.
A Chinese delegation that travelled to The Bahamas before the forum pledged up to US$5 million in funding for the island chain.
