The People’s Republic of China will provide Sao Tome and Principe with “significant funds” over the next five years, said the prime minister of Sao Tome, Patrice Trovoada, in an interview with the national television station, TVS.
Trovoada stressed it was “a very important amount that demonstrates China’s willingness to cooperate” in the archipelago development process and added that the aid can be broken down into donations, support for the State Budget and pardons for “old debts that we had with China.”
The prime minister, quoted by news agency STP-Press, said that in addition to infrastructure, such as the deep water port, airport, roads, administrative city and tourism, cooperation with China will also cover the areas of agriculture, fisheries, environmental issues, maritime security and staff training.
In addition to the General Cooperation Agreement signed last Wednesday in Beijing, Trovoada also referred to the Chinese government’s pledges of support to Sao Tome and Principe’s government and private enterprises for securing loans from Chinese financial institutions.
“This new era of cooperation with China aims to transform Sao Tome and Principe and the commitment between the parties is that at least one major project can begin later this year,” he concluded.
Sao Tome and Principe and the Republic of China re-established diplomatic relations in December 2016 after the archipelago cut its diplomatic ties to Taiwan. (macauhub)