Samoa Suspends Beijing’s Port Plan;
Prime Minister-Elect: Samoa Has Long Owed China a Heavy Debt
Fiame Naomi Mataafa, the Prime Minister-elect of Pacific Island Samoa, promised to suspend the port plan led by Beijing, costing about 100 million USD. She also pointed out that a small country with huge debts to China does not need such a large port.
Prime Minister-elect Fiame Naomi Mataafa defeated opponents last month, becoming the first woman prime minister in Samoa. She indicated that Samoa would keep a favourable relation with China, but there are more pressing issues to deal with at the moment. The port plan has already caused controversy in China and is one of the most influential issues in the local election in April.
Mataafa stated in a Reuters interview, “Samoa is a small country. Our seaports and airports cater for our needs. It's very difficult to imagine that we would need the scale that's being proposed under this particular project when there are more pressing projects that the government needs to give priority to.”.
Source: Stand News #May20
https://bit.ly/3vAxBnQ
#Samoa #Beijing #China #Debts #PacificIsland #Port #Mataafa #Reuters
Prime Minister-Elect: Samoa Has Long Owed China a Heavy Debt
Fiame Naomi Mataafa, the Prime Minister-elect of Pacific Island Samoa, promised to suspend the port plan led by Beijing, costing about 100 million USD. She also pointed out that a small country with huge debts to China does not need such a large port.
Prime Minister-elect Fiame Naomi Mataafa defeated opponents last month, becoming the first woman prime minister in Samoa. She indicated that Samoa would keep a favourable relation with China, but there are more pressing issues to deal with at the moment. The port plan has already caused controversy in China and is one of the most influential issues in the local election in April.
Mataafa stated in a Reuters interview, “Samoa is a small country. Our seaports and airports cater for our needs. It's very difficult to imagine that we would need the scale that's being proposed under this particular project when there are more pressing projects that the government needs to give priority to.”.
Source: Stand News #May20
https://bit.ly/3vAxBnQ
#Samoa #Beijing #China #Debts #PacificIsland #Port #Mataafa #Reuters
立場新聞 Stand News
薩摩亞擬擱置北京主導港口計劃 候任總理：國家早欠下中國重債 | 立場報道 | 立場新聞
太平洋島國薩摩亞候任總理 Fiame Naomi Mataafa 承諾將擱置由北京主導、造價約 1 億美元的港...
International public opinion denounces Africa to fall into a debt trap; China’s financial commitments to Africa have fallen for the first time in 12 years
According to Bloomberg, after international public opinion criticized China for causing African and other developing countries to bear huge debts, China’s fiscal commitment to Africa fell for the first time in more than a decade.
Xi Jinping, President of China, attended the 8th Forum on China-Africa Cooperation via video. He announced that China will provide 1 billion vaccines, and also mentioned about financial commitments to Africa under the first three-year plan of “China-Africa Cooperation Vision 2035”. This include providing US$10 billion trade finance line; promoting total investment of Chinese enterprises in Africa to be not less than US$10 billion in the next three years; providing US$10 billion line of credit to African financial institutions; there will be US$10 billion of additional special drawing rights issued by International Monetary Fund, allocated to Africa, which will be $40 billion in total. In addition to financial commitments, Xi also proposed to establish a “green channel” for African agricultural products, hoping to import a total of US$300 billion from Africa in the next three years.
The Forum on China-Africa Cooperation is held every three years. Bloomberg said, China’s financial commitments to Africa in 2018 forum was US$60 billion, which has been decreased by 33 per cent. And during 2016-2018, China’s financial commitments to Africa doubles every three years. In another words, this was the first decline in financial commitments to Africa in 12 years.
Source: Stand News #Dec02
#China #Africa #Debts
According to Bloomberg, after international public opinion criticized China for causing African and other developing countries to bear huge debts, China’s fiscal commitment to Africa fell for the first time in more than a decade.
Xi Jinping, President of China, attended the 8th Forum on China-Africa Cooperation via video. He announced that China will provide 1 billion vaccines, and also mentioned about financial commitments to Africa under the first three-year plan of “China-Africa Cooperation Vision 2035”. This include providing US$10 billion trade finance line; promoting total investment of Chinese enterprises in Africa to be not less than US$10 billion in the next three years; providing US$10 billion line of credit to African financial institutions; there will be US$10 billion of additional special drawing rights issued by International Monetary Fund, allocated to Africa, which will be $40 billion in total. In addition to financial commitments, Xi also proposed to establish a “green channel” for African agricultural products, hoping to import a total of US$300 billion from Africa in the next three years.
The Forum on China-Africa Cooperation is held every three years. Bloomberg said, China’s financial commitments to Africa in 2018 forum was US$60 billion, which has been decreased by 33 per cent. And during 2016-2018, China’s financial commitments to Africa doubles every three years. In another words, this was the first decline in financial commitments to Africa in 12 years.
Source: Stand News #Dec02
#China #Africa #Debts