Close X
Friday, January 10, 2025
ADVT 
International

China offers infrastructure support to five neighbours

Darpan News Desk IANS, 21 Dec, 2014 12:05 PM
  • China offers infrastructure support to five neighbours
China will provide support to five neighbouring countries to improve infrastructure inter-connectivity and alleviate poverty, Chinese Premier Li Keqiang announced here Saturday.
 
The offer includes $1 billion for infrastructure inter-connectivity, $490 million in grant for poverty alleviation and $10 billion in special loans, Li said, according to a Xinhua report.
 
In a speech at the fifth summit of the Greater Mekong Subregion (GMS) Economic Cooperation held in Thailand's capital Bangkok, Li said that infrastructure inter-connectivity, particularly transportation facilities, is vital to boosting economy and development.
 
The Chinese and Thai governments have agreed to build Thailand's first standard-gauge railway line with a total length of over 800 km, which is estimated to cost nearly $10.6 billion.
 
Li expressed hope that the new high-calibre, high-quality and cost-effective railway line would benefit neighbouring countries, if extended to other places in the region.
 
The Greater Mekong Subregion designates a development project initiated by the Asian Development Bank (ADB) in 1992 that brought together the six states of the Mekong river basin -- Cambodia, Laos, Myanmar, Thailand, Vietnam and China.
 
The GMS programme, with the support of the ADB and other development partners, helps to identify and implement high-priority subregional projects in a wide range of sectors.
 
China also promised to invest $16.4 million to dredge the waterways along the Mekong river and prevent natural disasters.
 
The Chinese premier said that China expects to export its high-level production capacities in sectors like electricity, telecommunication, steel and cement to the neighbouring countries.
 
On a broader scale, Li said, the GMS Economic Cooperation, with a total trade volume of $150 billion in 2013, will further enrich China's partnership with the Association of Southeast Asian Nations (Asean).
 
To further China's ties with the GMS countries, Li suggested jointly planning and developing a comprehensive transportation network.

MORE International ARTICLES

Men detained outside Obama's hotel in Brisbane

Men detained outside Obama's hotel in Brisbane
Two men have been released after police detained them Sunday for more than an hour near the US president's hotel in Brisbane....

Men detained outside Obama's hotel in Brisbane

Qatar sheltering Al Qaeda financiers: US official

Qatar sheltering Al Qaeda financiers: US official
A top US official has accused Qatar of sheltering two financiers of the global terror network, Al Qaeda, media reported Sunday....

Qatar sheltering Al Qaeda financiers: US official

After Brisbane, euphoric reception awaits Modi in Sydney

After Brisbane, euphoric reception awaits Modi in Sydney
The Indian diaspora in Sydney is awaiting Indian Prime Minister Narendra Modi's quick-fire, high-energy visit Monday....

After Brisbane, euphoric reception awaits Modi in Sydney

Prime Minister Narendra Modi Looking Forward To Fiji Visit

Prime Minister Narendra Modi Looking Forward To Fiji Visit
India Prime Minister Narendra Modi says he is excited ahead of his visit to Fiji, home to a large ethnic Indian population, next week.

Prime Minister Narendra Modi Looking Forward To Fiji Visit

G20 Delegates Hit Brisbane Pubs, Strip Clubs

G20 Delegates Hit Brisbane Pubs, Strip Clubs
German chancellor Angela Merkel visited Caxton Street Friday night mixing with the locals ahead of the G20 summit Saturday.

G20 Delegates Hit Brisbane Pubs, Strip Clubs

G20: Modi Flags Repatriation Of Black Money, Meets Hollande, Harper

G20: Modi Flags Repatriation Of Black Money, Meets Hollande, Harper
Taking forward his promise, Indian Prime Minister Narendra Modi raised the issue of black money stashed abroad during his talk with BRICS leaders here Saturday and urged the need for close coordination between countries to repatriate such unaccounted wealth.

G20: Modi Flags Repatriation Of Black Money, Meets Hollande, Harper