PLP rejects loan resolution

Wed, Sep 22nd 2010, 08:00 PM

By KRYSTEL ROLLE
Guardian Staff Reporter
krystel@nasguard.com

The opposition last night rejected a resolution to borrow nearly$58 million from a Chinese bank to construct a new highway, saying the loan requirement to bring in 200 Chinese workers to build a road is something the Progressive Liberal Party cannot accept.
Minister of State for Finance Zhivargo Laing moved the resolution yesterday in the House of Assembly to borrow$57,999,966 from the Export-Import Bank of China for the development of the airport road project.
He said the nature of the China capital export policy provides for the inclusion of Chinese labor and material. Approximately 120 Bahamians will be engaged for the project.
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