Intending to build stronger bilateral relations with the South American nation, China has decided to write off a $15 million (Euro12.6 million) debt owed by Guyana, said President Bharrat Jagdeo.
Guyana will thus be able to reduce its debt and divert money to improve education and health services, Jagdeo said at the handing over ceremony of $7 million (Euro6 million) conference center built by China.
China has financed a textile mill and farms in the South American nation.
Negotiation for a large timber concession in northern jungles is underway with Guyanese government.
China has focused its attention on increased aid to the region after Caribbean Community adopted a one-China policy, not favoring independence for Taiwan.
marketing@alchempro.com
