China Donates us$48
Million To Costa Rica
In a matter a day a
cheque for us$48 million
dollars will be arriving
from China, a donation
of the Chinese
government, to help out
the affected of the
flooding and rains of
the past two weeks and
to complete the San
Carlos road and rebuilt
the Estadio Nacional.
The announcement of the
donation was made while
Costa Rican president,
Oscar Arias is on tour
in China.
The donation is made of
up us$20 million dollars
for the flood victims
and to repair the damage
caused by the water, and
us$28 million to
complete the road to San
Carlos and the national
stadium in La Sabana
park.
The San Carlos road was
begun with money from
the government of Taiwan
and was in jeopardy of
being completed when the
Arias government broke
off diplomatic ties with
Taiwan on June 1 in
favour of China.
The announcement was
made by Bruno Stagno,
Costa Rica's foreign
minister.
For now that is the only
concrete contribution by
the Chinese for Costa
Rica's decision on
Taiwan. However, more
aid and financial
support is expected in
the future, though no
details were given.
One of the possibilities
being discussed is a
free trade agreement
with China, allowing
both countries closer
commercial ties and
trade for products. In
addition, the Chinese
are expected to invest
heavily in oil
production, in
co-operation with Recope,
in Costa Rica.
Where the oil will come
from is unknown for the
moment. President Arias
did not elaborate on the
subject.
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