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Trinidad: Govt, China sign loan for US$104m

Chinese ambassador Song Yumin and Minister of Foreign and Caricom Affairs Dennis Moses have signed a framework agreement for a concessional loan between the governments for the development of Phoenix Park Industrial Estate.

The agreement was signed yesterday at the ministry at the International Waterfront Complex.

Trade Minister Paula Gopee-Scoon gave the value of the loan as USD104 million.

On the time frame for repayment, interest rate, and terms and conditions of the loan, Gopee-Scoon said: “That is still amateur for the Ministry of Finance in their negotiations with the China Exim Bank.”

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