News / Asia

    China Offers $11.5B in Loans, Credit to Southeast Asia

    (L-R) Vietnamese Foreign Minister Pham Binh Minh, Prime Ministers Thongsing Thammavong of Laos, Prayuth Chan-ocha of Thailand, Li Keqiang of China, Hun Sen of Cambodia and Myanmar's Vice President Sai Mauk Kham pose for pictures during their meeting in Sanya, Hainan province, China, March 23, 2016.
    (L-R) Vietnamese Foreign Minister Pham Binh Minh, Prime Ministers Thongsing Thammavong of Laos, Prayuth Chan-ocha of Thailand, Li Keqiang of China, Hun Sen of Cambodia and Myanmar's Vice President Sai Mauk Kham pose for pictures during their meeting in Sanya, Hainan province, China, March 23, 2016.
    Reuters

    China will offer $11.5 billion in loans and credit lines to five Southeast Asian countries for infrastructure and other projects, Premier Li Keqiang said on Wednesday.

    In 2014, Li offered $20 billion in loans to Southeast Asia, while visiting Myanmar to attend an East Asian summit, an attractive proposition for a region struggling to fund the roads, ports and railways needed for growth.

    Li made the new offer, which includes 10 billion yuan ($1.54 billion) in preferential loans and a $10 billion credit line, to the leaders of five countries along the Mekong River.

    He was speaking at a summit with leaders from Myanmar, Laos, Thailand, Cambodia and Vietnam in the southern Chinese resort town of Sanya on Hainan island.

    His comments were carried on the Chinese Foreign Ministry's website and by the official Xinhua news agency.

    Such offers of financial aid are not unusual at such get-togethers.

    He did not give a timeframe for when the funds may be dispersed.

    Li added that he would push China's new Asian Infrastructure Investment Bank and its Silk Road fund to also fund projects in the region, and ensure a greater use for China's yuan currency in dealings with the five countries.

    "There are six countries on one river. The Lancang-Mekong sub-region is our joint home," Li said, referring to the Chinese name for the upper part of the river which runs through China.

    "Over the many years of being neighbors we have become family," he added.

    Despite the proffers of friendship and money, China has a strained relationship with two of the countries whose leaders Li met - Vietnam and Myanmar.

    Vietnam and China are involved in an increasingly ugly dispute in the South China Sea over competing territorial claims.

    In Myanmar, China has been angered by a decision in 2011 by suspending the $3.6 billion, Chinese-invested Myitsone dam project, and is also nervous at the prospect of Myanmar's new government led by Aung San Suu Kyi's National League for Democracy.

    While Beijing had strong ties with the former Burma's military junta, it has also moved to cement relations with Suu Kyi, who met Chinese President Xi Jinping in Beijing last year.

    You May Like

    Multimedia US Observes Memorial Day With Wreath-laying, National Concert

    Obama lays a wreath at the Tomb of the Unknown Soldier in Arlington Cemetery

    The Strife of the Party: Will Trump Permanently Alter Republicans?

    While billionaire mogul's no-holds-barred style, high-energy delivery are what rocketed him to nomination, they also have created rift between party elites and his supporters

    China's Education Reforms Spark Protest

    Beijing is putting a quota system in place to increase the number of students from poor regions attending universities

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    Chinese-Americans Heart Trump, Bucking National Trendi
    X
    May 27, 2016 5:57 AM
    A new study conducted by three Asian-American organizations shows there are three times as many Democrats as there are Republicans among Asian-American voters, and they favor Hillary Clinton over Donald Trump. But one group, called Chinese-Americans For Trump, is going against the tide and strongly supports the business tycoon. VOA’s Elizabeth Lee caught up with them at a Trump rally and reports from Anaheim, California.
    Video

    Video Chinese-Americans Heart Trump, Bucking National Trend

    A new study conducted by three Asian-American organizations shows there are three times as many Democrats as there are Republicans among Asian-American voters, and they favor Hillary Clinton over Donald Trump. But one group, called Chinese-Americans For Trump, is going against the tide and strongly supports the business tycoon. VOA’s Elizabeth Lee caught up with them at a Trump rally and reports from Anaheim, California.
    Video

    Video Reactions to Trump's Success Polarized Abroad

    What seemed impossible less than a year ago is now almost a certainty. New York real estate mogul Donald Trump has won the number of delegates needed to secure the Republican presidential nomination. The prospect has sparked as much controversy abroad as it has in the United States. Zlatica Hoke has more.
    Video

    Video Drawings by Children in Hiroshima Show Hope and Peace

    On Friday, President Barack Obama will visit Hiroshima, Japan, the first American president to do so while in office. In August 1945, the United States dropped an atomic bomb on the city to force Japan's surrender in World War II. Although their city lay in ruins, some Hiroshima schoolchildren drew pictures of hope and peace. The former students and their drawings are now part of a documentary called “Pictures from a Hiroshima Schoolyard.” VOA's Deborah Block has the story.
    Video

    Video Vietnamese Rapper Performs for Obama

    A prominent young Vietnamese artist told President Obama said she faced roadblocks as a woman rapper, and asked the president about government support for the arts. He asked her to rap, and he even offered to provide a base beat for her. Watch what happened.
    Video

    Video Roots Run Deep for Tunisia's Dwindling Jewish Community

    This week, hundreds of Jewish pilgrims are defying terrorist threats to celebrate an ancient religious festival on the Tunisian island of Djerba. The festivities cast a spotlight on North Africa's once-vibrant Jewish population that has all but died out in recent decades. Despite rising threats of militant Islam and the country's battered economy, one of the Arab world's last Jewish communities is staying put and nurturing a new generation. VOA’s Lisa Bryant reports.
    Video

    Video Meet Your New Co-Worker: The Robot

    Increasing numbers of robots are joining the workforce, as companies scale back and more processes become automated. The latest robots are flexible and collaborative, built to work alongside humans as opposed to replacing them. VOA’s Tina Trinh looks at the next generation of automated employees helping out their human colleagues.
    Video

    Video Wheelchair Technology in Tune With Times

    Technologies for the disabled, including wheelchair technology, are advancing just as quickly as everything else in the digital age. Two new advances in wheelchairs offer improved control and a more comfortable fit. VOA's George Putic reports.
    Video

    Video Baby Boxes Offer Safe Haven for Unwanted Children

    No one knows exactly how many babies are abandoned worldwide each year. The statistic is a difficult one to determine because it is illegal in most places. Therefore unwanted babies are often hidden and left to die. But as Erika Celeste reports from Woodburn, Indiana, a new program hopes to make surrendering infants safer for everyone.
    Video

    Video California Celebration Showcases Local Wines, Balloons

    Communities in the U.S. often hold festivals to show what makes them special. In California, for example, farmers near Fresno celebrate their figs and those around Gilmore showcase their garlic. Mike O'Sullivan reports that the wine-producing region of Temecula offers local vintages in an annual festival where rides on hot-air balloons add to the excitement.
    Video

    Video US Elementary School Offers Living Science Lessons

    Zero is not a good score on a test at school. But Discovery Elementary is proud of its “net zero” rating. Net zero describes a building in which the amount of energy provided by on-site renewable sources equals the amount of energy the building uses. As Faiza Elmasry tells us, the innovative features in the building turn the school into a teaching tool, where kids can't help but learn about science and sustainability. Faith Lapidus narrates.

    Special Report

    Adrift The Invisible African Diaspora