Economic cooperation – China grants Antigua and Barbuda EC $41M

Twenty-seven-million dollars, out of a grant of E.C. $41 million from China, will be used to cover the cost to expand and repurpose for a university campus, the building originally constructed to serve as the Five Islands Secondary School.
The money is coming from the government of China in the form of a grant – which means the government of Antigua and Barbuda does not have to repay China.
Yesterday, representatives of the government of Antigua and Barbuda and the People’s Republic of China signed the Economic and Technology Cooper-ation agreement worth E.C. $41 million.
Prime Minister Gaston Browne told reporters at the signing ceremony, “This facility is extremely timely in that it will assist in the funding of two community centres [in 2018, in Villa and Willikies respectively] as well as the expansion of the university campus at Five Islands.”
Our intention is to allocate approximately E.C. $27 million to expand the campus to include additional classrooms, a lecture theatre and some dorms,” Browne said.
(More in today’s Daily Observer)