Mauritius gets interest-free loan, grant from China

China has given an interest-free loan of RMB Yuan 50 million (US$8 million) and a grant of RMB Yuan 1.05 million (US$162,440) to fund development projects in Mauritius, the Finance Ministry in Port-Louis said here Friday.

The interest-free loan, which is repayable over four years, will be used partly to finance the Culture House project to accommodate the National Archives and the National Library, while the grant will be used to fund the setting up of a Technical and Vocational Education and Training (TVET) Centre in the island.

The deployment of 15 teachers from China to teach Mandarin to 2,300 pupils in the primary schools in Mauritius, to promote the cooperation between the two countries, will also be funded form the loan money.

Mauritian Finance Minister Xavier-Luc Duval said the financial deals would further enhance the friendly relations between Mauritius and China, in addition to taking the economic and technical cooperation to new heights.

‘Our two countries will build on this foundation to achieve higher development goals through established and innovative modes of cooperation, including a mutually beneficial transfer of capital, technology and business opportunities,’ he said.

‘Learning the Mandarin language has become important for the economic development of the island as more and more tourists are coming from China. The Chinese are also investing massively in Africa. This will reinforce the role of Mauritius as a platform between Asia and Africa,’ the Minister added.