{"id":140967,"date":"2021-11-04T08:40:22","date_gmt":"2021-11-04T12:40:22","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=140967"},"modified":"2021-11-04T08:40:45","modified_gmt":"2021-11-04T12:40:45","slug":"govt-defends-use-of-chinese-loans-for-development-projects","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/govt-defends-use-of-chinese-loans-for-development-projects\/","title":{"rendered":"Gov\u2019t of Guyana defends use of Chinese loans for development projects"},"content":{"rendered":"
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The Guyana government has defended its decision to seek funding from China for projects here, saying that Beijing makes \u201csofter\u201d loans available than other countries.<\/p>

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\u201cWe made it clear to everyone. No financing from anybody comes with political strings but Chinese financing has been readily available to the world and we believe, like the rest of the region, we have to explore friends and partners from every part of the world,\u201d Vice-President Bharrat Jagdeo told a news conference on Monday.<\/p>\n

He told reporters that Guyana had sought to obtain a Euros 103 million (One Euro=US$1.29 cents) loan from Austria for the construction of a children and maternal hospital but was told that Georgetown would have had to deduct Euros 13 million immediately as an \u201cupfront fee\u201d.<\/p>

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He said in addition, Austria was also indicating that Guyana had to use one of their pre-approved contractors, a position he said was similar to that of India and the United States.<\/p>

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The announcement by Georgetown comes less than a week after a senior Chinese diplomat based in Antigua and Barbuda said the Caribbean region should not be viewed as a \u201cbattleground\u201d where major countries form small circles pitted against one another.<\/p>\n

Charge d\u2019Affaires at the Embassy of the People\u2019s Republic, Wang Erdong, said both China and the United States could be partners in the development of Antigua and Barbuda and, by extension, the Caribbean.<\/p>

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\u201cAs a matter of fact, China and the United States could both be cooperative partners of Antigua and Barbuda. Never has China tried to sell its social system and development path to the Antiguan and Barbudan friends, nor drive a wedge between Antigua and Barbuda and the United States.\u201d<\/p>\n

The Chinese diplomat wrote that the \u201cCaribbean region is not a battleground where major countries form small circles pitted against one another.<\/p>

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\u201cThe relationship between China and the United States in this region is not meant to be one of rivalry or even confrontation. Caribbean countries should be able to be friends with the United States and at the same time form partnerships with China.\u201d<\/p>

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Jagdeo announced on Monday that the China State Construction Engineering Corporation (CSCEC) has been approved to build the US$256.6 million Demerara Harbour Bridge and that China Railway Group Limited has been selected to open negotiations for the design-build-finance of the 165 megawatt hydropower plant at Amaila Falls.<\/p>\n

Jagdeo said Guyana would explore \u201cevery source of financing\u201d and make decisions based on the best offers based on an \u201copen\u201d process by America, British, Chinese and other companies.<\/p>\n

\u201cWe have to build the bridge, we have to build the hydro and we went through an open process. That is what we committed to. We committed to open processes,\u201d he said.<\/p>\n

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The Guyana government has defended its decision to seek funding from China for projects here, saying that Beijing makes \u201csofter\u201d loans available than other countries. \u201cWe made it clear to everyone. No financing from anybody comes with political strings but Chinese financing has been readily available to the world and we believe, like the rest […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-140967","post","type-post","status-publish","format-standard","hentry","category-regional"],"yoast_head":"\nGov\u2019t of Guyana defends use of Chinese loans for development projects - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/govt-defends-use-of-chinese-loans-for-development-projects\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t of Guyana defends use of Chinese loans for development projects\" \/>\n<meta property=\"og:description\" content=\"The Guyana government has defended its decision to seek funding from China for projects here, saying that Beijing makes \u201csofter\u201d loans available than other countries. \u201cWe made it clear to everyone. 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