Posted: Saturday, December 9, 2017. 8:31 am CST.
By BBN Staff: At yesterday’s house meeting a motion for a US$40 million loan from Taiwan was tabled.
The US$40 million dollar loan is to be disbursed in four equal installments over four years from 2017 to 2020 and the condition is for twenty years less grace period of three years to be repaid later on.
“This is simply another installment in the continuing economic cooperation program with Taiwan. Their loan and grant program is done in cycles of four years; the last four-year program has come to an end; this is the new four-year program,” PM Barrow told Parliament.
The Prime Minister went on to say that, “there is nothing additional in the proposed mix of loans and grants but that is what happens every four years with the Republic of China (Taiwan).”
The loan is from the Export-Import Bank of the Republic of China (Taiwan).
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