Antigua St. John's –
A delegation from of the China EXIM Bank will start a visit to Antigua and Barbuda from today observe the construction progress and status of projects funded by the bank.
The five member delegation led by vice-president of the bank Zhu Hongji will pay a courtesy call on Prime Minister Baldwin Spencer and other members of the Cabinet along with China's Non-Resident Ambassador to Antigua David Shoul.
They will also tour projects funded by the bank including the construction work being carried out on the new airport terminal at the V.C. Bird International Airport.
President of the China Civil Engineering Construction Corporation (CCECC) Mr. Yuan Li is a member of the delegation. His company carrying out construction of the new airport terminal.
Prime Minister Spencer has announced that government has completed payment on the loan for the 69KV Sub-Station at Crabbes.
“We are delighted that we have been able to close this loan agreement with the China EXIM Bank that was entered into by the former administration some fifteen years ago. Last month we made the final payment of 2.2 million RMB on the loan,” said Prime Minister Spencer.
“By closing this loan arrangement, which we renegotiated from an interest rate of 4 percent to 2 percent since coming into office, is a commitment by the UPP administration to honour those huge debts which were left by the former administration and to stay current on payments with those we have entered into. We will continue to work with the China EXIM Bank which has demonstrated that it is a true friend of Antigua and Barbuda and we are looking forward to the completion of the new airport terminal which is the latest project being funded by the EXIM Bank,” PM Spencer concluded.
