News

Trinidad Signs $280.6M Loan Agreement With China EXIM Bank

By: Caribbean Journal Staff - March 21, 2013 - 4:48 pm

Above: Port of Spain

By the Caribbean Journal staff

Trinidad and Tobago has signed a loan agreement in the amount of $280.6 million with China’s EXIM Bank, the government announced this week.

The loan, which was announced by Housing, Lands and Marine Affairs Minister Dr Roodal Moonilal, will support several sport and health facilities in the country.

The money is part large-scale offer by China to the region in an effort to deepen economic ties. It was first announced at the Third China-Caribbean Economic and Trade Cooperation in Port of Spain in 2011.

Some of the projects to receive funding include the George Bovell III Acquatic Centre, a cycling velodrome, a tennis centre and the children’s hospital at Couva.

The terms of the loan were not disclosed.

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