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China,Fiji : Government signs $220m agreement with Exim Bank of China
Publish Date : 21-Jun-2012
The deal amid the government and Exim Bank of China will finally help the development of much-anticipated road project in Bua Province of the country.
The agreement was inked by the Prime Minister\'s permanent secretary Pio Tikoduadua. The official signed the deal paper in support of the government.
The $220 million loan from the Exim Bank of China will help the tarsealing of the Dreketi-Nabouwalu road, which will be finished by a period of two and a half years.
The government’s deal with China has been welcomed by the business community and stakeholders, and they termed it as an occasion for augmentation of the national economy.
\"The signing of the agreement between the government and the China Railway First Group marks a significant milestone for Fiji. And the government is very proud to be able to provide this as an impetus for growth in the province,\" stated Mr. Tikoduadua.
He has added that the government is dedicated to build vital infrastructure in rural quarters in order to enhance economic actions in the region.
Mr. Tikoduadua opined, \"This is a very important for us primarily as it is the main route connecting Labasa to Viti Levu through Nabouwalu which provides the shortest ferry route.\"
\"We are thankful to the government of the Peoples Republic of China as the Chinese Exim Bank has agreed to fund this project, which will benefit thousands of people of the three provinces of Vanua Levu.\"
The President of Labasa Chamber of Commerce Ashok Karan has stated that the tarsealing of Dreketi-Nabouwalu road will improve business augmentation alongside the passage.
\"We are very happy about the news as it will bring growth to the business community.
\"Now that the electricity supply is being extended to Dreketi, this road development will greatly boost development in the area,\" he remarked.
