Guyana and Haiti among Caribbean nations to benefit from China/IDB US$350m loan

Guyana and Haiti among Caribbean nations to benefit from China/IDB US$350m loan scheme Published on Friday, October 24, 2008

WASHINGTON, USA: China was officially inducted as a member of the Inter American Development Bank (IDB) on Monday and committed US$350 million for public and private sector projects in Latin America and the Caribbean.

Speaking at a video conference to journalists around the world, IDB’s President, Alberto Luis Moreno, said that the money would be divided into four loan schemes.

“China is now this region’s second biggest trading partner after the United States,” Moreno said, adding that the loan would help to “bolster some of our programmes in the public and private sectors at a time when the world economy is under duress”.

Of that money, $125 million will go to the IDB’S funds for special operations to provide soft loans to Bolivia, Guyana, Haiti, Honduras and Nicaragua; $75 million will go to multiple IDB grant funds to strengthen the institutional capacity of member states including municipal governments and private sector institutions; $75 million will be allocated to the Inter American Investment Corporation which lends to small and mid-sized business; and $75 million will be placed in the bank’s multilateral investment fund.

Moreno noted that the funding would be accessible to all member states of the Latin American and Caribbean region.

He also disclosed that China would now be given a seat on the Bank’s Board of Governors and would be a member of the Board of Directors.

Meanwhile, Chinese ambassador to the United States, Zhou Wenzhong, said that the loan would create the opportunity for increased two-way trade and investment and greater technological cooperation between China and the region.

"China will, after officially joining IDB, cooperate closely with Bank, support the IDB in reducing poverty and promoting development, and share our experience with the countries of Latin America and the Caribbean for the purpose of mutual benefit and common development," Wenzhong said.

The Asian giant will become the 48th member country in the Washington, DC-based IDB, the single largest source of long-term lending for the region.

“We are thrilled to bring a large and growing economy like China into a community of nations that are working together to resolve the complex development challenges facing Latin America and the Caribbean,” said Moreno. “It is a historic decision that takes China’s thriving commercial relationship with our region into the development sphere.”

“The flow of ideas, resources and technology between China and Latin America has grown exponentially in recent years,” said Moreno. “China is an increasingly important commercial partner and investor for the region and a vast new market our exports.”

China’s entrance was approved by other member countries in a month-long voting process that ended on October 15. The 26 Latin American and Caribbean borrowing nations own 50.01 percent of the IDB, with the United States holding just over 30 percent of the shares.

Apalipapa !!!!!!!!!!!!!!!

Devan greenback nanpren fè back.Money talks bulls.... walks.li pap pran chinwa yo anpil tan pou yo pase anpil peyi daprè mwen nan 10 zan ankor china ap dezyem pwisans economik mondyal si li pap premye.Moun sa yo genyen youn disiplinn ke w pa jwen nan anpil lot peyi.

Mwen ta renmen konnen to depay natyonal chinwa yo.se pa moun ki ap viv pou fè wè. yo ekonomise lajan yo e yo viv selon moyen yo.depi youn pep pa genyen disiplinn e byen wap tonbe nan malsite.genyen anpil leson pou nou menm ayisyen pran nan men chinwa yo.Yo pa adopte kilti lot moun .yo pa edike pep yo nan lot lang,nou sonje ki jan nou te konn gade tout chinwa sou bisiklet pral nan travay yo pat achte machinn 50000 dola pou yo kouri nan la ri.Yo pa enpote tou sa yo servi ,ki jan pou youn pep konsa pa fè pwogrè.

Rodlam Sans Malice a écrit:Devan greenback nanpren fè back.Money talks bulls.... walks.li pap pran chinwa yo anpil tan pou yo pase anpil peyi daprè mwen nan 10 zan ankor china ap dezyem pwisans economik mondyal si li pap premye.Moun sa yo genyen youn disiplinn ke w pa jwen nan anpil lot peyi.

Mwen ta renmen konnen to depay natyonal chinwa yo.se pa moun ki ap viv pou fè wè. yo ekonomise lajan yo e yo viv selon moyen yo.depi youn pep pa genyen disiplinn e byen wap tonbe nan malsite.genyen anpil leson pou nou menm ayisyen pran nan men chinwa yo.Yo pa adopte kilti lot moun .yo pa edike pep yo nan lot lang,nou sonje ki jan nou te konn gade tout chinwa sou bisiklet pral nan travay yo pat achte machinn 50000 dola pou yo kouri nan la ri.Yo pa enpote tou sa yo servi ,ki jan pou youn pep konsa pa fè pwogrè.

Malis, menm si ekonomi chinaz la gen yon taux kroissans extraordine, distribition richess sa ankor tres inegaliter.
Masse riral yo pa profite menm jan ak elites urbaibnes yo. Check this report if you are interested.

http://www.undp.org.cn/downloads/nhdr2005/NHDR2005_complete.pdfhttp://www.gwu.edu/~econ270/Taejoon.html