China grants Barbados $1.32 million to renovate Cheapside Market in Bridgetown (linked to project ID #73272)

According to the Embassy of China in Barbados, an Economic and Technical Cooperation project on the renovation of the Cheapside Market in Bridgetown, Barbados was conducted from 2001-2002. From January 11-14, 2003, China and Barbados exchanged notes on the provision of aid for Barbados and the handover certificate for the Cheapside Market. An Annual Report and Financial Statements of the Accountant General of Barbados from 2008-2009 states that China provided Barbados a loan of 30 million RMB (USD $4,592,773.80) for a "Tech Co-op". Project ID #73272 captures that loan. As of March 31, 2009, $795,502 of the loan was still outstanding. From September 30 to October 2, 2004, the newly renovated market was unveiled during Chinese officials' visit to Barbados. A European Commissions Country Strategy paper from 2002-2007 states that China donated a total of USD $1.32 million to redesign the market. This project captures that grant. In 2015, Chinese Ambassador Wang Ke remarked that 22 grants to projects like the Cheapside Market have assisted Barbados. Thus, the $1.32 million is likely a grant separate from the 30 million RMB loan.

Additional details

The Chinese Embassy source describes the Cheapside Market project as a "major joint venture" project, but no documentation of the details of a joint venture have been identified

Number of official sources

4

Number of total sources

4