NAURU and China have signed an AUD 1 billion investment deal to boost socio-economic development in the Central Pacific republic.
The initiative will develop renewable energy, the phosphate industry, marine fisheries and sea infrastructure, water resource and environmental system, modern agriculture systems, eco-tourism, green transport systems, health, and cultural exchange platforms.
Signed by Nauru’s Foreign Affairs Minister Lionel Aingimea, and China Rural Revitalisation and Development Corporation Chairman Zhang Yong, the agreement precedes a scoping visit by Chinese officials in October.
Both governments expect that the projects will increase employment opportunities, trade prospects and people-to-people cultural exchange.