ST. GEORGE’S, Grenada, May 24th, 2012 -- The Grenada government today expressed appreciation to EXIM Bank of the Peoples Republic of China for its support to the development of the country.
Prime Minister Hon. Tillman Thomas this morning told a delegation from EXIM Bank that his government was “very appreciative” of their visit and he looked forward to the banks further involvement in funding projects that were crucial to Grenada’s economic development.
“Your institution has played a significant role in the growth of our economy and we look forward to deepening that relationship,” the Prime Minister, who was accompanied by the Minister for Finance, Hon. Nazim Burke, Cabinet Secretary, Gemma Bain-Thomas and three Permanent Secretaries, told the delegation.
President of the bank, Li Ruogu, said the institution was pleased to support Grenada’s tourism development because of its importance to the island.
“I think that China likes to share the experience of economic development with our friends. We have already extended two tranches of our concessional facilities to the region,” he said.
The two sides signed a memorandum of understanding that gives Grenada access to a one billion US dollar development fund that China has allocated to the Caribbean.
“If you can have very well prepared projects, you can have a greater share of the one billion dollar preferential facility. It is a first come first serve opportunity. My staff will like to work with you and your staff to work out some of the projects, Prime Minister, you think is urgent and necessary in your economic development,” the Bank’s President said.
The delegation held a meeting with the Minister for Finance and other government officials at the Grenada Grand Beach Resort, following the courtesy call on the Prime Minister’s Botanical Gardens office.
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