China to Lend $500 Million to Costa Rica

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　　China has agreed to lend over 500 million US dollars to Costa Rica helping¹ the country with its economic development.

 

　　The agreement with regard to the loan was signed between visiting Chinese President Xi Jinping and his Costa Rican counterpart Laura Chinchilla in San Jose.

 

　　The Export-Import Bank of China has also extended a nearly 300 million US dollars loan to fund the extension of a road to connect the central part of Costa Rica with its main shipping² port in the Caribbean.

 

　　Xi Jinping says they will continue working together not just to improve their own fortunes but the rest of the world as well.

 

　　"We will strengthen our coordination³ and efforts in relevant international issues. We're going to defend together, the general interests of developing countries and we're going to make greater contributions to peace and stability in the world."

 

　　Laura Chinchilla meanwhile says the strategic relations extend beyond economics since the two countries established diplomatic ties in 2007.

 

　　"In these six years, in relations between Costa Rica and China we have managed to strengthen our friendship and cooperation in all possible areas, not just commerce and investment but also in important areas such as scientific development, technology, education, the issues of security, energy issues and environmental conservation."

 

　　Nine agreements were signed during the visit, among them a donation by China of 16.3 million US dollars for the country's police academy.

 

　　China is currently Costa Rica's second largest trading partner following the US.

 

　　Costa Rica is the second leg of Xi Jinping's four-nation tour, which earlier took him to Trinidad and Tobago.

 

　　He will next visit Mexico and the US.

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