Username Password
PINA
US claims better development finance terms than China
7:06 pm GMT+12, 19/07/2018, United States

The head of the US government's development finance arm says his country offers better terms in the Asia-Pacific than China.
 
The Overseas Private Investment Corporation's (OPIC) chief executive Ray Washburne says its US$4 billion fund in the region is to help economic development, stability and prosperity.
 
In Papua New Guinea it provided more than US$10 million to help telecommunications company Digicel expand services into remote parts of the country.
 
Washburne said the US assistance does not force countries to use an imported labour force.
 
He said it ensures environmental standards are met and that loan repayments are within a country's capacity.
 
Washburne said strategic assets should not be put at risk and cites Sri Lanka handing over a strategic port Hambantota to China last year on a 99-year lease.
 
“So we think the United States working with our counterparts in Japan and Australia truly are going to be able to drive bolder and bigger projects that create economic growth and local jobs that enhance regional connectivity.”
 
Including the Pacific in the Asia region, Ray Washburne said "what's good for Asia is good for the world".

SOURCE: RNZ PACIFIC/PACNEWS
 


News feature
There are no related media to this article.
Pacific Islands News Association
Who & What is PINA?
Membership
Member Countries
Media Freedom
Training
PINA Convention
Awards
Contact
Gallery
Forum
Events
Jobs
Classifieds
PACNEWS
Home
Regional
Feature
Business
Sports
Archives
Partners
Communications Initiative
International News Safety Institute (INSI)
UNDP PC
AusAID
NZAID
SPREP
ONOC
UNAIDS
Media Helping Media
Partners
PIFS
SPC
IFEX
UNESCO
AIBD
GFMD
SEAPA
WPFC
IFJ