Suriname makes inadequate use of Chinese fund for South America

Suriname reportedly fails to make adequate use of a $5 billion fund that has been made avialble for South America by China. There is also a $10 billion fund available for concessional loans which Suriname can tap into. It is hoped that the business community will seize these opportunities but so far only Broad Homes Suriname, a house manufacturer, has done so.

China’s ambassador to Suriname, Zhang Jinxiong, suspects that people are not aware of the procedures that must be followed to tap into the funds. Other countries in the region have also failed to seize these opportunities which is why a team of experts will leave for Argentine next month. The team of experts will reportedly promote these financial possibilities. Ambassador Zhang hopes that the local business community will also show interest by participating in these information sessions. “There are many opportunities. They only need to know how to approach them. That is why a seminar will be held in Argentine. The experts will explain everything and share more information,” said Ambassador Zhang. As part of the China-Celac collaboration more financing possibilities have been presented to the region by China.The credit limit for special loans has been raised to $20 billion. China deems South America and the Caribbean as important political and trade partners in the world.

Chinese President Xi Jinping in 2015 emphasized this by providing a series of financing opportunities at low interest rates. During a meeting with the leaders of the region, President Xi announced that his country would invest about $250 billion in South America and the Caribbean in the next 10 years.