SVG secures  US$45m soft loan from Taiwan for roadworks
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May 28, 2024

SVG secures US$45m soft loan from Taiwan for roadworks

The government of St Vincent and the Grenadines has secured an additional US $45 million soft loan from the Republic of China (Taiwan), for continued roadworks throughout the state.

This is the second such loan from Taiwan; and contractors are now in the process of completing the first set of road works which are being done under the Taiwan funded National Roads Rehabilitation Programme.

The additional loan was one of the many benefits reaped during Prime Minister Dr Ralph Gonsalves’ recent visit to Taiwan, where he witnessed the inauguration of newly elected President, William Lai, on Monday May 20, 2024. During a press conference at Cabinet Room on Monday, Dr Gonsalves explained that the additional loan which has been agreed upon, will be used for the second tranche of road works to be undertaken.

“You complain about roads, I will give you roads. More and more, day by day, sweet Jesus,” Dr Gonsalves promised.

He also said that more grant funding in the sum of $5 million is to be made available from Taiwan.

He said this money will be used in the Community Small Impact Project, the umbrella body for community and sports and cultural advancement.

While in Taiwan, Dr Gonsalves also met and held discussions with officials from the Ministry of National Security.

As a result of these discussions, Dr Gonsalves said that acting Commissioner of Police, Enville Williams will be making a visit to Taiwan within the next few weeks.

He also spoke as well of the possibility of having exchange visits between health professional at the Mackay Memorial Hospital and those in SVG, and the strengthening of existing relations with that hospital in Taiwan.

“We are hoping that we could see some strengthening, both in relation to the number of visits they could make, and very importantly, exchanges.”

Dr Gonsalves left the state on May 15 and returned last Saturday.

While overseas, the prime minister also met with this country’s Ambassador to the United Nations, Rhonda King, and UN Secretary General Antonio Guterres.