by Staff Writers
Praia (AFP) Jan 5, 2012
China will extend a $80-million loan to Cape Verde for social housing as well as to build a sports stadium and revamp the presidential palace, the African island nation's news agency said Thursday.
The agreement was signed Wednesday in the capital Praia by secretary of state for foreign affairs Jose Luis Rocha and the Chinese ambassador Li Chunhua, the official Inforpress news agency said.
Of the total amount, $63 million (48.5 million euros) is earmarked for social housing projects.
China is currently building a 15,000-seat sports stadium in Cape Verde which lies off the western African coast. The presidential palace in Praia has never been refurbished since the island nation's independence from Portugal in 1975.
China has aggressively moved into African markets, tapping into natural resources to fuel its own economy and also taken a major role in building roads, bridges and other infrastructure across the continent.
Africa News - Resources, Health, Food
Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.
G.Bissau to retire 400 troops under military reform
Bissau (AFP) Jan 4, 2012
About 400 troops will retire from Guinea Bissau's army this month under military sector reforms in the coup-prone country, Prime Minister Carlos Gomes Junior said Wednesday. The move comes weeks after the government said it had foiled an attempted coup in the poor West African country that is also a major cocaine trafficking hub. The premier said that "the government is working with its ... read more
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2012 - Space Media Network. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement|