Chinas SAT $100million loan explained

Written by Newsline Writer
Sunday, 17 February 2008
Formalities of loan agreement between China and Samoa The Embassy of the Peoples Republic of China has expressed the reasons for giving the Government of Samoa an amount of $100million tala. According to the Embassy the amount is part of a Concessional Loan. “The agreement stipulates that the Government of the People’s Republic of China agrees to have the Export & Import Bank of China to provide the Ministry of Finance of the Independent State of Samoa with a concessional loan in the amount of not exceeding 300 Million RMB yuan,” the Embassy stated. According to them, the assistance is made with a view to further developing the friendly relations and economic and technical cooperation between Samoa and China. The two Governments signed the Framework Agreement on Provision of the Concessional Loan on Friday. The Loan according to the Embassy is to be used for implementation of the Samoa Government Office Building and Conference Center Complex Project. Comments (0) Subscribe to this comment's feed Write comment Name Email Title Comment

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