Jamaica, China sign four agreements

The governments of Jamaica and China yesterday signed four agreements, among which will see the Asian superpower providing the island with billions of dollars in grants and loans to facilitate infrastructure development.

The signed agreements include a preferential loan deal with the China Exim Bank for the US$353-million three-year Major Infrastructure Development Programme (MIDP), though it was not immediately clear how much funds will be disbursed.

We will also need to get details from the Minister of Transport and works or the PM on what are the terms on conditions of this new loan , eg interest rates etc.

 

There is also a100 million Renminibi Yuan ($1.6 billion) grant aid from China to Jamaica that will be used for projects to be mutually agreed upon through consultations between both countries. Detailed accounting procedures for the disbursement of funds will be handled between the Ministry of Finance and the China Development Bank.

Here is where I hope the Chinese are more diligent in terms of accountability that our local guys, because this $1.6b grant could evaporate and no one can give account for where the money went. 

In China people are sentenced to death for corruption.

In Haiti people are jailed for corruption.

While over in Jamaica where we have our own flair, people are handsomely rewarded for corruption. 

I hope as part of the conditions under pinning the grant, is if its found out that the money was used in a corrupt way, the person or persons involved will be extradited to China to face its tough anti-corruption laws.

 

When comrades here loan and grants dem antenna goes up and the knife and fork comes out, because that means its eat a food time.
http://www.jamaicaobserver.com/news/Jamaica–China-sign-four-agreements_14923333#ixzz2chtPdorG