JavaScript is disabled in your web browser or browser is too old to support JavaScript. Today almost all web pages contain JavaScript, a scripting programming language that runs on visitor's web browser. It makes web pages functional for specific purposes and if disabled for some reason, the content or the functionality of the web page can be limited or unavailable.

Monday, February 24, 2025

China to provide Grenada with EC$40 million in financial aid

by

32 days ago
20250123

The gov­ern­ment of Chi­na has agreed to pro­vide Grena­da with gra­tu­itous aid of 100 mil­lion yuan for mu­tu­al­ly agreed-up­on projects. 

This fi­nan­cial sup­port was signed in an agree­ment for eco­nom­ic and tech­ni­cal co­op­er­a­tion dur­ing the re­cent of­fi­cial vis­it to Chi­na by Grena­da’s Prime Min­is­ter, two oth­er min­is­ters of gov­ern­ment and sev­er­al sup­port­ing staff.

Al­though the agree­ment was signed on Jan­u­ary 13, it was dis­closed dur­ing a spe­cial news con­fer­ence on Thurs­day at­tend­ed by  Chi­na’s Am­bas­sador to Grena­da Wei Hongt­ian. 

“This 100 mil­lion Chi­nese yuan is equiv­a­lent to US$13.7,” said Wei as he re­it­er­at­ed that this vis­it to Chi­na was an of­fi­cial vis­it by the Gov­ern­ment of Grena­da in ob­ser­vance of the 20th an­niver­sary of both states re­sum­ing diplo­mat­ic ties.

Since re­sum­ing diplo­mat­ic re­la­tions, Chi­na has pro­vid­ed Grena­da with mil­lions in grants for cap­i­tal and so­cial projects. 

These in­clude build­ing of the ath­let­ic and crick­et sta­dia, re­pairs to roads as well as uni­ver­si­ty schol­ar­ships and train­ing for hun­dreds of young pro­fes­sion­als.

Prime Min­is­ter Dick­on Mitchell who head­ed the del­e­ga­tion was the first Head of Gov­ern­ment to vis­it Chi­na for 2025. 

He was ac­com­pa­nied by Min­is­ters Lennox An­drews and Joseph An­dall who hold min­is­te­r­i­al posts of Eco­nom­ic De­vel­op­ment and For­eign Af­fairs re­spec­tive­ly.

“The aid shall be used for im­ple­men­ta­tion of mu­tu­al­ly agreed projects,” said the Am­bas­sador. The projects that will be cov­ered by that agree­ment are yet to be dis­closed. “Both sides will set up an ap­pa­ra­tus to de­cide how and when the grant will be dis­trib­uted,” said the For­eign Af­fairs Min­is­ter who point­ed out that Grena­da will have to present a plan show­ing how the mon­ey will be utilised.

The fi­nan­cial aid from Chi­na is equiv­a­lent to EC$40 mil­lion

“This is a sig­nif­i­cant sum which can go a long way in aid­ing in the de­vel­op­ment of Grena­da,” said An­dall.

An­drews who is al­so the Min­is­ter for Agri­cul­ture, said an agree­ment was al­so signed about a study in the area of agri­cul­ture.

 “For the past years we have had an MOU in which Chi­na will pro­vide agri­cul­tur­al as­sis­tance to the Gov­ern­ment and peo­ple of Grena­da, we are now com­plet­ing the eighth agree­ment and we are about to sign the ninth agree­ment,” he said and added that once that ninth agree­ment is signed it will be im­ple­ment­ed.

Be­sides the agree­ment for the fi­nan­cial aid, Grena­da signed oth­er doc­u­ments which were ei­ther mem­o­ran­dum of un­der­stand­ing or mem­o­ran­dum of agree­ments and they cov­er a wide range of ar­eas, in­clud­ing agri­cul­ture, en­er­gy and the en­vi­ron­ment, re­new­able en­er­gy, arts, cul­ture and tourism, and the blue econ­o­my.

ST. GEORGE’S, Grena­da, Jan. 23, CMC

CMC/ls/kb/2025


Related articles

Sponsored

Weather

PORT OF SPAIN WEATHER

Sponsored