KINGSTON, June 16 (Xinhua) -- The Jamaican government has decided to use Chinese concessional loans to upgrade the road network on the island, Jamaican Prime Minister Andrew Holness said Thursday.
The arrangement has been finalized with the Export-Import Bank of China (China EximBank), which will provide most of the funds, to construct a road network in the southeastern and southwestern parts of the country, the prime minister told a press conference in Jamaica House.
Holness said that the projects will cost 384 million U.S. dollars. The Jamaican government will raise 57 million dollars while the rest will be provided by the China Eximbank as a loan.
Works in the southeastern end of the island will cover construction of a toll-free four-lane highway and renovation of some old roads, Holness said.
Poster Comment:
Bye Bye World Bank, IMF.