China grants US$ 2 million loan to Cape Verde

12 January 2006

Cidade da Praia, Cape Verde, 12 Jan – Chinese Foreign Minister Li Zhaoxing has signed a cooperation accord with his Cape Verdean counterpart that includes a US$ 2 million interest free loan from Beijing to the West African archipelago.

Li and Cape Verdean Foreign Minister Victor Borges signed an agreement of economic and technical cooperation Wednesday to allow “completion of funding” to two health sector projects – an outpatients department and a maternity unit at the islands’ main hospital.

Talks between delegations from the two counties centered on a new phase of development projects backed by Beijing, Cape Verde’s top diplomat said, including a national sports stadium, the islands’ second dam, a ceramics factory and a fish processing plant.

Foreign Minister Borges added that Cape Verde is seeking to widen its cooperation with China and promote the archipelago as “an interesting place for Chinese investment.”

Li, in turn, said the Beijing government will offer incentives for Chinese firms to do business in Cape Verde. The Chinese diplomat had arrived in Cape Verde on the first leg of a six-nation Africa tour.

China is one of Cape Verde’s most valued cooperation partners and Beijing has financed the building of a new parliament and government building in the capital, as well as a national auditorium and the drought-prone islands’ first dam, currently being built. (macauhub)