President Xi Jinping of China assured loans that are more than US$3 billion to 10 countries in the Caribbean. This was stated by the prime minister of Trinidad & Tobago during a summit in California.
Xi pledged to help Costa Rica with a loan of US$296 million. This was intended to the expansion of the country's key highway. This was signed under 13 accords with the country's president, Laura Chinchilla. After said meeting with the heads of state of 10 Caribbean nations, President Xi Jinping pledged a total of US$3 billion worth of loans. However, no direct confirmation was stated by the Chinese government.
The Chinese president arrived Trinidad three days after US Vice President Joe Biden made a regional tour. This underscored a competition with the countries having the biggest economies in the world. Xi is said to depart from Trinidad today and will meet US President Obama in June 7.
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