Business
China steps up investments across Caribbean
Another Chinese vice premier, Wang Qishan, announced he wanted to see the implementation of more projects that focus on finance, infrastructure and tourism. China’s ministry of commerce announced that Beijing intends to collaborate on solar energy projects and the construction of schools.
Guyana’s government said China has pledged to give that country US$4.7 million. A Chinese delegation that visited the Bahamas before the forum in Trinidad pledged up to US$5 million in funding for the island chain off Florida’s eastern coast.
In Jamaica, Li Ruogu, chairman of the state-owned China Exim Bank, which handles most of China’s overseas aid loans, said he was committed to developing strong economic ties between China and Jamaica.
“That is our very determined and firm commitment. So ladies and gentlemen and friends, please trust us. We will be your development partner,” he said.
China is making similar pledges elsewhere in the Western Hemisphere. It is lending and investing tens of billions of dollars in Latin American countries in return for a guaranteed flow of commodities, particularly oil.
Recent deals have made China a key financier to the governments of Venezuela and Argentina. At the same time, Chinese companies have secured a decade’s worth of oil from Venezuela and Brazil, and steady supplies of wheat, soybeans and natural gas from Argentina.
Copyright © 2011 The Associated Press
