Government Signs Memorandum of Understanding with Taiwan for Various Programs

Government Signs Memorandum of Understanding with Taiwan for Various Programs

The governments of China and the Dominican Republic signed a memorandum of understanding on Tuesday that outlined the Distribution of Assistance from China to the Dominican government for the period of 2009-2012.

The memorandum, which involved the distribution of $100 million dollars, half of which is non-refundable, was signed by the Chinese Ambassador, Isaac Tsai and Juan Temístocles Montás, …

The memorandum, which involved the distribution of $100 million dollars, half of which is non-refundable, was signed by the Chinese Ambassador, Isaac Tsai and Juan Temístocles Montás, Dominican Minister of Economy, Planning and Development, and by Alejandra Liriano, representing the Foreign Ministry, according to information released by the President’s Office of Information, Press and Publicity.

The $50 million non-refundable US dollars will be disbursed quarterly in four parts of $12.5 million, Mr. Montás said following the signing ceremony that took place in his office at the National Palace.

He indicated that the financial conditions and disbursements of the $50 million dollars, which the government has access to upon signing the memorandum, will be negotiated among the signatories.

The Ministry of Economy, Planning and Development, jointly with the Chinese Ambassador in the DR, will be in charge of managing the money, supervising and following up the projects financed as part of the memorandum.

Chinese Ambassador Isaac Tsai, said the cooperation between his country and the DR has grown over the past few years as a result of the visionary boost provided by Dominican President Leonel Fernández and the President of China.

He confirmed that the Dominican government, under the wise direction of President Fernández, has achieved notable development in all areas.

The Chinese diplomat added that his government is happy to support programs that help the Dominican people and contribute to national progress.

He ended by saying that both governments share the vision that cooperation of all types should be developed in coordination with the principles of efficient aid.