Former ally The Gambia pays back its loans on time: MOFA
By Joseph Yeh, The China PostTAIPEI, Taiwan -- Taiwan's former diplomatic ally in Africa, The Gambia, has recently made three loan payments on schedule as part of its plan to pay back millions of U.S. dollars worth of loans that Taipei previously granted to Banjul, a Ministry of Foreign Affairs (MOFA) official said yesterday.
February 21, 2014, 12:06 am TWN
David Wang (王建業), director-general of MOFA's Department of West Asian and African Affairs, said The Gambia has maintained a good credit history in the past.
According to information MOFA recently received from the Taiwanese bank that grant loans to the African country, The Gambia made loan payments on schedule despite the fact that both sides no longer have official ties, Wang said.
According to MOFA, the three loan payments were made on Jan. 21 and Feb. 19 in three batches, for a total of US$2.2 million.
The next payments scheduled are due in July and August, MOFA said.