Minister of Finance and The Public Service The Hon. Audley Shaw conducted high-level discussions this morning with Export-Import Bank of China Executive Vice Governor Mr. Zhu Hongjie on his first visit to Jamaica. The talks centred on the implementation of various projects being financed by the Bank in Jamaica, as well as on other areas of mutual cooperation.
The Export-Import Bank of China is financing the 5-year Jamaica Development Infrastructure Programme (JDIP) – the largest road and works programme ever undertaken in Jamaica. The programme is valued at US$400 Million. The Bank is also financing the Palisadoes Shoreline Protection Rehabilitation Works – a US$56 Million project.
Minister of Finance and The Public Service, Hon. Audley Shaw (left), points out something of interest to Export-Import Bank of China Executive Vice Governor,. Zhu Hongjie, during discussions at the Ministry this morning (Dec. 22).
Also in the meeting were: Mr. Zhang Qiang, General Manager of Export-Import Bank of China, Mr. Chen Zhong, Vice President of China Harbour Engineering Company Limited, and Mrs. Lui Ya, Assistant General Manager, Export-Import Bank of China. Joining them was Mr. Zhang Li Yong, Senior Counsellor of the Embassy of The Peoples Republic of China, and Messers Qu and Zhai of Complant, the new owners of 3 former State-owned sugar estates divested earlier this year.
Among the matters discussed was the sourcing of additional funding from the Export-Import Bank of China for unlending to the Ex-Im Bank of Jamaica for direction to the small, medium, and micro business sector. The encouragement of joint venture and private sector investments in Jamaica by Chinese interests was also raised by Minister Shaw.
“I have always been clear that the only way that Jamaica can progress is through the robust expansion of our productive sector, and Foreign Direct Investment is critical to achieving that goal”, said Minister Shaw. “I am extremely pleased at the strong relationship between Jamaica and the Peoples Republic of China and look forward to the strengthening of existing ties”.