President of Sao Tome and Principe says China represents a new source of funding

The President of São Tomé and Príncipe Evaristo Carvalho said on Wednesday in Sao Tome that “China represents an excellent opportunity for the country to obtain a new source of financing,” for the development of its economy.

The Head of State, speaking at a session to commemorate the forty-second anniversary of independence, referred to the economic importance of re-establishing diplomatic relations with the People’s Republic of China in December 2016 replacing Taiwan.

“China represents a new source of funding, which will certainly allow us to carry out structural projects such as the construction of the deep-water port and an international airport for the development of the economy,” said the president.

Carvalho also said that “these two important infrastructures, along with those already under way, will allow us to create a more solid economy capable of making use of the potential of the country.”

Following a meeting last January with the São Tomé President, a delegation from the China Road & Bridge Corporation (CBRC) expressed interest in participating in the two projects, which are considered to be fundamental for the development of São Tomé and Príncipe’s economy.

In an interview with Macauhub, China’s ambassador to Sao Tome and Principe, Wang Wei, reaffirmed Beijing’s willingness to participate in these projects, stressing that “China does not rule out any funding, which will ultimately depend only on the conclusions of the feasibility study and the priorities,” of the Sao Tome State.

Following the reestablishment of diplomatic relations, in Beijing in April Sao Tome and Principe and China signed a comprehensive cooperation programme in the economic, scientific and cultural fields as well as specific agreements in the energy, tourism, health and technical assistance sectors. (macauhub)