31 May 2008

No word on whether China loan approved for mini games in Rarotonga

11:54 am on 31 May 2008

The Cook Islands has still received no official word from the China Exim Bank regarding their 10-million US dollar loan to build a sports stadium and upgrade venues on the main island Rarotonga for next year's mini games.

China had approved the soft loan earlier this year, but put its decision on hold following changes to the stadium plans by the Cook Islands Investment Corporation.

The Minister for the CIIC Tangata Vavia says he's been told the Bank has now assessed the new plans.

"Now moved on to the next body and I think that's the final body that makes the last assessment I'm expecting anytime in the future to hear from them as to the final result of their discussion."

However, the Minister says while he couldn't say when they will hear from the Chinese he's hopeful the response will be positive.