China says soft loans to Pacific island nations well-received

08:21, July 15, 2011      

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China said on Thursday that its preferential loans provided to Pacific island countries have been well-received by the governments and people of them.

Foreign Ministry spokesman Hong Lei made the remark at a regular news briefing.

He said the Chinese government began to offer preferential loans to the developing countries in the Pacific since 1995.

All the loan projects are under strict management and subjected to the assessment and verification of the bank on their economic benefits and repayment capacity, Hong said.

"Facts prove that these projects have brought good social and economic benefits to the local government and people," he added.

The Chinese government insists on full respect to the recipient countries and provides assistance in accordance with the long-term development plan of the recipient nations, he said.

China also arranges timely and frequent communication with the governments of the recipient nations according to the recipient's requests and the extent of urgency, he noted.

Hong said China will further optimize the aid formation, innovate the forms of assistance and make reasonable arrangements on the scale and proportion of the unpaid assistance, interest-free loans and preferential loans in the future.

China will also improve the performance of the loans and direct more loans to areas that adhere to the the United Nations' Millennium Development goals, in an effort to better assist the economic and social development of the recipient countries, he said.

Source: Xinhua
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