China Signs On for 'Gigantic' Investment in El Salvador Infrastructure

SAN SALVADOR – China will assist construct a number of main infrastructure tasks in El Salvador together with a stadium and water therapy plant, the 2 international locations mentioned Tuesday, signaling China’s rising position in the area after El Salvador minimize ties with Taiwan.

Salvadoran President Nayib Bukele, who met together with his Chinese language counterpart Xi Jinping in China this week, mentioned the funding represented a “gigantic, non-refundable cooperation” for the small Central American nation.

He didn’t disclose the deliberate funding quantity.

Underneath the settlement, China will assist construct a big sports activities stadium, multi-story library and water therapy plant.

China, the world’s second greatest financial system, can even help at coastal vacationer websites, together with constructing streets, parks and a water system alongside the seashores often called Surf Metropolis, and eating places and retailers on the Puerto de la Libertad pier.

The tasks provide the strongest sign but of El Salvador’s embrace of shut relations with China.

El Salvador “adheres to the principle of one China, categorically rejects any act that goes against this principle and any form of ‘independence of Taiwan,'” El Salvador and China mentioned in a joint assertion.

El Salvador broke off diplomatic relations with Taiwan in August final 12 months, following the Dominican Republic and Panama in switching sides to China.



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