China to loan group of Portuguese-speaking countries 1.8b yuan

PUBLISHED : Tuesday, 05 November, 2013, 8:58pm
UPDATED : Tuesday, 05 November, 2013, 8:58pm

China will provide 1.8 billion yuan (HK$2.27 billion) in concessionary loans to Portuguese-speaking countries in Asia and Africa over the next three years, state media said on Tuesday.

The announcement was made by Chinese vice-premier Wang Yang at a forum between China and Portuguese-speaking countries in the former Portuguese territory of Macau, the official Xinhua news agency said.

The report said that funding priority would go towards supporting infrastructure facilities and “production projects”.

Wang said China will share its experience with Portuguese-speaking countries in the development of special economic zones and development zones, Xinhua added.

Countries attending the forum include Brazil, Portugal, East Timor and Guinea-Bissau.