China announces new aid measures at Macau Forum

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China announces new aid measures at Macau Forum

7:40 CAT | 12 Oct 2016

Noticias

China intends to grant 4.5 billion yuan (over 670 million US dollars) to the Portuguese speaking African countries and to East Timor over the three year period 2017-2019.

The pledge was announced on Tuesday in Macau by Chinese Prime Minister Li Keqiang at the opening of the Fifth Ministerial Conference of the Forum for Economic and Commercial Cooperation between China and the Portuguese Speaking Counties (otherwise known as the Macau Forum). Mozambique is represented at the meeting by Prime Minister Carlos Agostinho do Rosario.

Li announced a total of 18 new measures that will enshrine Chinese cooperation with Mozambique, Angola, Cape Verde, Guinea-Bissau, Sao Tome and Principe and East Timor during the three year period.

He said that the Chinese government will offer soft loans to a value of not less than two billion yuan to promote industry and productive capacity “and to strengthen still further collaboration in the building of infrastructures”.

China will offer grants of two billion yuan to boost the well-being of the peoples of these countries in the areas of agriculture, the facilitation of trade and investment, the fight against malaria, and research into traditional medicine, among others.

China is also offering debt relief of 500 million yuan. This results from the cancellation of payments now due on interest-free loans.

Li also promised that China will continue sending medical teams (consisting of a total of 200 medical staff) to the six counties, and will provide 2,000 places in Chinese training institutions in various areas, as well as 2,500 scholarships.

He added that China will develop cooperation with the Portuguese speaking countries in fisheries, research into maritime ecosystems, and environmental protection.

Other measures announced include setting up a confederation of business people of China and the Portuguese Speaking Countries, turning Macau into a platform for financial services between China and the six countries, and setting up, also in Macau, “a base for training professionals who are bilingual in Chinese and Portuguese”.

Source: AIM