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Queed - Global News Network > Economics > Grenada Secures Major Financial Aid and Cooperation Deals with China
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Grenada Secures Major Financial Aid and Cooperation Deals with China

Queed Reporter
Last updated: January 23, 2025 9:07 pm
Queed Reporter 5 months ago
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ST GEORGE’S, Grenada – In a significant development during his official visit to China, Grenadian Prime Minister Dickon Mitchell, accompanied by key ministers and officials, secured an agreement for 100 million yuan (approximately US$13.7 million) in economic and technical aid for the island nation. This grant, aimed at advancing mutually beneficial projects, is part of the ongoing diplomatic and developmental partnership between Grenada and China, marking the 20th anniversary of the resumption of their diplomatic ties.

The agreement, signed on January 13, was publicly disclosed at a special press conference hosted by China’s Ambassador to Grenada, Wei Hongtian, on Thursday. Ambassador Wei highlighted the enduring cooperation between the two countries, with China having previously extended financial support to Grenada for several infrastructure and social projects, including the construction of sporting facilities, road repairs, and university scholarships for Grenadian students.

“This 100 million yuan grant is a reflection of China’s commitment to furthering the development of Grenada,” Ambassador Wei remarked. “It’s a gesture of goodwill on the occasion of our 20th anniversary of renewed diplomatic relations.”

Prime Minister Mitchell, the first Grenadian Head of Government to visit China in 2025, was joined by Ministers Lennox Andrews (Economic Development) and Joseph Andall (Foreign Affairs). The delegation also focused on discussing long-term cooperation in areas including agriculture, renewable energy, and the environment. The financial aid, equivalent to EC$40 million, will be allocated for specific projects agreed upon by both parties, with Grenada required to submit a detailed plan for how the funds will be used.

“The aid will contribute significantly to Grenada’s development, supporting various essential projects,” said Minister Andall. “This is a crucial investment in our nation’s future.”

Additionally, Minister Andrews emphasized the ongoing agricultural cooperation between the two countries. Grenada is finalizing its eighth agreement for agricultural assistance from China, with a ninth agreement poised for signing, continuing a fruitful partnership in the sector.

Apart from the financial aid agreement, the visit also resulted in multiple memorandums of understanding covering a wide array of sectors including energy, arts, culture, tourism, and the blue economy, all aimed at fostering deeper collaboration between the two nations.

This visit underscores the growing ties between Grenada and China and paves the way for future collaboration that will benefit both nations across diverse sectors.

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