The Solomon Islands is seeking a $100-billion loan from Chinese interests in talks begun soon after the small South Pacific archipelago switched diplomatic ties to Beijing from Taiwan last year. The government of the Solomon Islands is seeking a $100 billion loan from Chinese interests in negotiations that started shortly after the small South Pacific archipelago switched diplomatic ties from Taiwan to Beijing last year. “This loan is clearly unaffordable, why is the government still assessing it months after it was first proposed,” he said. The Solomon Islands is seeking a $100-billion loan from Chinese interests in talks begun soon after the small South Pacific archipelago switched diplomatic ties to Beijing from Taiwan last year. A Chinese businessman has floated a $100 billion loan offer to the tiny Pacific island nation of Solomon Islands, a report said. Last year Solomon Islands switched its diplomatic allegiance to China and severed ties with Taiwan; Solomon Islands Finance Minister Harry Kuma has confirmed that the leaked letters showing him in discussions about a possible loan are authentic.
The loan has been formally "offered by confidential donors" through broker Terry Wong, documents
"Yes, the letters are real," he told the ABC in a message. Kenilorea called on all responsible leaders to recognise that the Solomon Islands is already being pushed into the debt trap by a desperate government and this is a clear result of the decision to switch ties last year.
Solomon Islands poised to switch allegiance from Taiwan to China This article is more than 8 months old Pacific nation is one of the few countries that recognise Taiwan, but this may soon change Details of the proposal, reviewed by Reuters, have sparked concern over Details of the proposal, reviewed by Reuters, have sparked concern over whether the small economy can handle a loan that represents more than 66 times its annual economic output.
The Solomon Islands is seeking a $100-billion loan from Chinese interests in talks begun soon after the small South Pacific archipelago switched diplomatic ties to Beijing from Taiwan last year.
by WorldTribune Staff, February 21, 2020. A milestone in the banking sector of Solomon Islands POB Purse is mobile banking with security features that enables you to access banking services anywhere, anytime on your mobile phone – Even when you do not have a bank account!
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