Kamla queries China loan

Siparia Member of Parliament, Kamla Persad-Bissessar, yesterday expressed concern as to why the Government of Trinidad and Tobago found it necessary to borrow money from a foreign government. “Why are we borrowing money that we have to pay back with interest, when we have been giving away money all over the Caribbean, left, right and centre?” asked Bissessar. She then asked about the TT$152, 238, 240 concessional loan that the TT Government secured from China.

The loan is part of the TT$160 million in financial support from China, stemming from an agreement signed by both governments at the Hilton on Monday. According to Foreign Affairs Minister, Knowlson Gift, the loan is “to be used to fund projects agreed on by both governments.” TT will also receive a $7,611,912 grant for a project or projects, provided that both governments agree to it. Gift has left to attend a Caribbean-China Economic and Trade Forum in Jamaica which runs from February 1-3. Minister of Legal Affairs, Danny Montano, will act as Foreign Affairs Minister in his absence, while Rose Janniere temporarily replaces Montano in the Senate. Gift is expected back on February 4.