Prime Minister Ralph Gonsalves highlighted Taiwan’s substantial contributions to St. Vincent’s infrastructure and economic development during the new Kingstown port inauguration ceremony on Saturday.
Gonsalves emphasized Taiwan’s remarkable financial support, detailing over $200 million in strategic investments across critical national projects. The investments span multiple sectors, including port infrastructure, healthcare, and economic development.
“The handprint of Taiwan is across many development projects in this country,” Gonsalves declared, underlining the significant financial commitments. The breakdown of investments includes:
• $63 million in Exim Bank loans for port development
• $125 million in soft loans for Arnos Vale hospital
• Approximately $80 million in additional grants and loans
A particularly noteworthy aspect of these investments is the unprecedented partnership between the Caribbean Development Bank and Taiwan’s financial institutions – a collaboration that stands unique in the Caribbean region.
“We are friends of all and we strive for a better world,” Gonsalves stated, highlighting St. Vincent’s diplomatic approach of maintaining constructive relationships with both Taiwan and mainland China.
Gonsalves on Saturday also thanked The Bank of Saint Vincent’s involvement, with the government holding a 63% stake, which he says further underscores the nation’s commitment to sustainable economic growth.
The port’s inauguration marks a significant milestone in St. Vincent’s ongoing economic transformation, with Taiwan playing a pivotal role in supporting the nation’s infrastructure and economic aspirations.
