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China approves multi-million dollar loan for MBIA upgrade, low incomehousing phase two to start soon



Monday, September 04, 2017 4:15 PM - George's, Grenada

ST. GEORGE'S, GRENADA, MONDAY SEPTEMBER 4, 2017 - GOVERNMENT INFORMATION SERVICE (GIS) :China approves multi-million dollar loan for MBIA upgrade, low income housing phase two to start soon.

The construction of phase two of the Chinese Housing project in Grenada is expected to start later this year.
The government in Beijing has approved Phase two of the project, paving the way for the start of construction in about two months.

Prime Minister Dr. Keith Mitchell received the good news during a recent meeting with the Chinese Ambassador to Grenada Ambassador Dr. Zhao Yongchen.

Ambassador Yongchen was officially welcomed at the start of his four-year tenure earlier this year.


The second phase of the low income housing project involves the construction of units in six districts across the tri-island state including Dumfries in the sister isle of Carriacou.

Technical teams from China as well as the Ministry of Works have been visiting the six sites throughout the year to prepare the design for the project.


China is now tendering for a construction company to do the work, another plus for the Grenadian housing sector which has been made a priority by the Keith Mitchell government.

Phase one was completed a few years ago with more than 350 units distributed.


Meantime, the Government of China has approved a Concessional loan for the upgrade of the Maurice Bishop International Airport, valued at US $66 million dollars.

China Harbour is the construction company assigned to carry out the upgrade work.


China’s Vice Minister of Commercial Affairs is expected in Grenada later this month to sign the two agreements with the Government of Grenada.



 

 

 

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