Focus Taiwan
Date: 2019/07/19
By: Wen Kuei-hsiang and Chung Yu-chen

Castries, St. Lucia, July 18 (CNA) President Tsai Ing-wen (蔡英文) addressed the Parliament of St.

Lucia Thursday, touting the mutual benefits of bilateral cooperation and saying there is no concern Taiwanese loans could ever become debt traps.

While project loans will come from Taiwanese banks, Tsai said, the work will be contracted out to Saint Lucia's companies through Taiwan's Overseas Engineering and Construction Company, meaning Taiwan will hire local workers.

"This model of cooperation ensures that both our peoples can participate and reap the benefits. There will be no issue of 'debt traps,' unlike some other cooperation models," she said, adding that she believes in mutually beneficial projects rooted in strong communication and collaboration.

Tsai's comment came in the wake of accusations in the West that China is using its Belt and Road Initiative (B.R.I.) to exert control over and trap countries that join the transnational infrastructure investment scheme into debt.    [FULL  STORY]