SURINAME RECEIVES $15 MILLION LOAN FROM CHINA
Suriname has received a soft grant of about 100 million yuan ($15 million) from China for the execution of a housingand an asphalt paving project. Finance Minister Gillmore Hoefdraad and Chinese Ambassador Zhang Jinxiong on Thursday inked the agreements at the Presidential Palace. Minister Hoefdraad explained that Suriname can start paying back the loan after 5 years. The government has 20 years to pay back the entire loan which has an interest rate of 2%. The minister pointed out that the money from this loan will be used to finance the construction of 350 houses as part of the government’s social housing project. The money will also be used to finance the Dalian 4 asphalt paving project. “These projects will slowly get Suriname’s economy going. The execution of both projects will also create jobs for workers and employers,” said Minister Hoefdraad. The Chinese ambassador pointed out that the agreements are part of the good bilateral relations between Suriname and China. He also pointed out that the bond between both countries has become stronger over the past 40 years.