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China to help Jamaica fight unemployment

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Staff writer ▼ | August 23, 2013
The Jamaican Government signed four agreements with China worth millions of dollars. The most important agreement is with the China Exim Bank for a preferential loan for the Major Infrastructure Development Project (MIDP).
Jamaica
JamaicaThe Jamaican Government signed four agreements with China worth millions of dollars. The most important agreement is with the China Exim Bank for a preferential loan for the Major Infrastructure Development Project (MIDP).


The other agreements are Letters of Agreement on economic and technical co-operation between both governments; Letters of exchange on the construction of infant schools by the Government of China for Jamaica; and Letters of exchange on the feasibility study Teaching Building of the Confucius Institute.

Several hundred kilometres of roadway will be rehabilitated; bridges and retaining walls will be constructed or rehabilitated as well as the completion of sub-projects started under the Jamaica Development Infrastructure Programme (JDIP). The project is slated to provide employment for thousands of Jamaicans.

Both countries also signed an agreement with a view to further developing economic co-operation between the two countries. The Chinese government will provide grant aid in the amount of RMBY 100,000,000 or approximately $16 million. This will be used for projects to be mutually agreed on through consultations between the two countries.

For another agreement, the Chinese government has agreed to dispatch a technical group to Jamaica for a feasibility study on the project Teaching Building of the Confucius Institute on the Mona Campus of the University of the West Indies. If this is feasible, a specific supplementary agreement will be signed between both governments.


 

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