China loans over US$80 million to Cape Verde

6 January 2012

Praia, Cape Verde, 6 Jan – China has loaned Cape Verde over US$80 million under the terms of four agreements signed Thursday in Praia, according o the Cape Verdean press.

Signed by the secretary of state for Foreign Affairs, José Luís Rocha, and by the Chinese ambassador to Cape Verde, two of the agreements will provide loans for construction of social housing, and one of the loans is for US$51 million and the other for US$12 million.

The remaining two agreements related to expanding the National Stadium by a further 5,000 seats to a total of 15,000 as well as the project to extend and refurbish the Presidential Palace.

The loan provided to Cape Verde by the China Export Import Bank (ExIm) has a maturity of 20 years. (macauhub)