27 Nov 2009

Cooks gets China loan for infrastructure upgrade

4:14 pm on 27 November 2009

The Cook Islands Government has been given a 27 million US dollar loan by China to fund two major infrastructure projects.

The Framework Agreement, a concessional loan signed by the Chinese Ambassador to New Zealand and the Cook Islands, will fund the upgrade of the main water pipeline and roads on Rarotonga.

"The Secretary of the Ministry of Infrastructure and Planning Taukea Raui (TAH-AW-kay-ah RAH-oo-ee) says the aged pipeline around the island is to be replaced and the roads will be fixed."

In the same time as we progress with the replacement of the ring main, there'll be an upgrading of the road that follows the ring main replacement.

Taukea Raui says Cook Islands has been given a five year grace period before making repayments which he expects to be complete within 15 years.