11 Nov 2013

China to loan Pacific Island countries US$1b

2:45 pm on 11 November 2013

China has offered Pacific Island countries a one billion US dollar concessionary loan for infrastructure developments.

The China Daily reports the assistance has been offered to those countries in the region which have diplomatic ties with China.

The loan is part of a package of measures including 2,000 scholarships over the next four years to train local technicians and more medical facilities and Chinese medical teams for the region.

The China Daily reports China will also increase trade in the agriculture and forestry sectors, continue projects promoting Chinese farming methods and invest in green energy facilities.

The Vice-Premier, Wang Yang, made the announcement at the China-Pacific Island Countries Economic Development and Cooperation Forum in Guangzhou.

It was attended by representatives from the Federated States of Micronesia, Samoa, Papua New Guinea, Vanuatu, the Cook Islands, Tonga, Niue and Fiji.

Chinese media report Mr Wang as saying developing a good partnership with the Pacific island countries is a long-term strategy in China's diplomatic work.