Vice President Boakai Lauds China-Liberia Ties

Thursday, 16th October 2008

Monrovia, Liberia - Liberia’s Vice President Joseph N. Boakai has lauded the close ties between Liberia and the People’s Republic of China. 

He said Mainland China and Liberia share a lot in common, and that he would like to see even more closer ties develop between the two countries.

Vice President Boakai made the commendation Tuesday evening when a three-member delegation from the China Development Bank, accompanied by Chinese Ambassador Zhou Yuxiao, paid a courtesy call on him at his Capitol Building office.

He congratulated Chinese envoys in Liberia for the strides they have made in promoting ties between their country and Liberia since the coming to power of the Unity Party-led Government. “We would like to see sizeable Chinese investments in Liberia, investments that will help us share your experience and expertise,” Vice President Boakai said.

He applauded the coming to Liberia of representatives of the China Investment Bank which, he noted, will serve as an impetus to Chinese investment in Liberia. The Liberian Vice President used the occasion to congratulate the people of China for the successful Olympics they hosted, saying the Beijing Olympics demonstrated Chinese determination to succeed in the face of the immense challenges confronting them.

Briefing Vice President Boakai earlier, the head of the delegation, Mr. Zhao Hong, said they were in the country to look for opportunities to which they can link Chinese investors. Mr. Hong, who is International Cooperation Commissioner of China Investment Bank, explained that while in the country, the Bank representatives will discuss the possibility of extending a loan to the Chinese company, CHICO, which is undertaking the reconstruction of Liberia’s road network.

He said China Development Bank, established in 1994, is the biggest bank for foreign exchange loans, and grants medium and long-term loans to Chinese companies engaged in a range of enterprises like infrastructure development and mineral exploration. He said through this China Development Bank contributes indirectly to the development of African countries.

Also in remarks, Chinese Ambassador Zhou said while in the country, the Bank delegation will hold discussions with officials of the Central Bank of Liberia; Ministries of Finance, Lands, Mines and Energy, and Commerce; as well as the National Port Authority; Liberia Electricity Corporation, among others.