Belt and Road Initiative
The Government of the Cook Islands and the Government of the People’s Republic of China sign the Belt and Road Initiative Memorandum of Understanding in which both countries agree to promote between themselves policy coordination, facilitate connectivity, trade, financial cooperation and people to people relations.
The Ministry of Finance and Economic Management (MFEM) released a report today which outlines the impact of a proposed $12.98 million loan from the Asian Development Bank (ADB) for renewable energy investments across the Southern Group of the Cook Islands. Overall, the value of the project is $27.2 million.
The fifth Cook Islands Development Partners Meeting will be held in the Cook Islands from 9-12 February 2015. The meeting is also planned as part of the festivities around the fiftieth anniversary year of Cook Islands self government in 2015.
The focus will continue to be on building development partner confidence in the Cook Islands national systems. The meeting will be structured in a manner that fosters space for different perspectives from local community, business and civil society leaders to be shared with international and national government representatives. As well as the main plenary in Rarotonga, there will also be an overnight visit taking place in Mitiaro scheduled for Thursday 12 February.
The country’s outer islands are to get some much-needed heavy machinery through a deal signed in Rarotonga today (Friday 10 October, 2014).
The deal was signed between the Cook Islands government – represented by Richard Neves Secretary of Finance and Zhao Zhonging, Vice President of the China Civil Engineering Construction Corporation (CCECC). The arrangement is being financed by a grant from the Chinese government, and the machinery will be sourced from the Peoples’ Republic of China. It’s expected to cost about $6.4-million and will include a training package for operators and mechanics and a large spare parts inventory to be stored in Rarotonga.
For the full press release please visit our Press releases! page.