The China Post
Date: November 4, 2017
By: Ku Chuan, Elaine Hou and Kuan-lin Liu
TAIPEI (CNA) – Taiwan’s government plans to spend NT$1.5 billion (US$49.7 million)
In this Oct. 1, 2017, file photo of the Grand Palace and Wat Phra Kaew, Bangkok, Thailand, a man is at work while the site has been temporarily closed. Taiwan government plans to spend NT$1.5 billion next year to subsidize interest payments to support a plan for local banks to loan up to US$3.5 billion for development projects in allied and New Southbound Policy countries, such as Thailand. (CNA)
next year to subsidize interest payments to support a plan for local banks to loan up to US$3.5 billion to allied and New Southbound Policy countries for development projects.
Minister without Portfolio John Deng (鄧振中), the head of the Cabinet’s Office of Trade Negotiations, told CNA on Saturday that the government will be spending a total of NT$3 billion on the program, with half of that sum already listed in next year’s budget.
The much larger sum of US$3.5 billion that the government originally described as a “financing facility” to be managed under what Taiwan is calling its version of an “Official Development Assistance” program will actually come from Taiwan’s commercial banks.
The goal of Taiwan’s program is to help Taiwanese businesses win contracts to build public infrastructure in targeted countries, Deng said. [FULL STORY]
