China Development Bank analyses projects from Portuguese-speaking countries

31 March 2016

The China Development Bank will assess the viability of 20 projects that have applied for the China/Portuguese-Speaking Countries Cooperation and Development Fund , the Secretary General of the Macau Forum, Chang Hexi said Wednesday.

The Secretary-General of the Permanent Secretariat of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries (aka Macau Forum) also said the fund is currently supporting two ongoing projects.

Chang Hexi spoke after the 11th Ordinary Meeting of the Permanent Secretariat of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries (Macau), attended by representatives of the Chinese Ministry of Trade, the Department of Economic Affairs of the central government’s Liaison Office in Macau, the ambassadors of the Portuguese-speaking countries in China, members of Macau Forum’s Permanent Secretariat and representatives of the Macau government.

According to the local paper Tribuna de Macau, Chang Hexi explained that only two projects had been approved so far because some of the applications did not contain all the documents necessary for analysis, such as a economic viability studies.

However, he said that the China Development Bank technicians were analysing four or five projects and added that a decision “will be made soon.”

The two projects already underway are from Angola (agriculture) and Mozambique, (distribution and supply of drinking water).

Formally announced in November 2010 by the then Chinese Prime Minister, Wen Jiabao, the Fund has a budget of US$1 billion. It is managed by the China Development Bank and began accepting applications in 2013. (macauhub/AO/CN/MO/MZ)

MACAUHUB FRENCH