Gov’t looking to China to finance infrastructure projects in Jamaica
Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Dr Horace Chang, has started discussions with Chinese officials on building out several infrastructure projects in Jamaica.
Chang who is on a two-week visit to Macao, China, met with Executive Vice-President of the China Development Bank (CDB) Wang Yongsheng and other representatives of the bank on Monday.
Among the possible investment projects discussed during the meetings were:
Funding arrangements for priority water and sewage projects in Negril and Kingston and St Andrew at a cost of US$346 million which would include concessional and public, private partnership arrangements to replace water and sewer mains as well as the installation of a treatment facility.· A US$1.28 billion funding for the proposed highway network which would include the link from May Pen to Williamsfield, the 89 km network from Williamasfield to Montego Bay, the 10km connection of the East West/North South highway and the construction of a 15km Montego Bay Bypass to ease the traffic congestion from the town
Chang noted that projections are that the overall road construction projects would increase the island's GDP by three per cent and generate more than 100,000 jobs.
The bank has indicated that it is willing to expand cooperation with Jamaica in all possible areas as infrastructure projects are important to the livelihood and social development of a nation.