Vanuatu will benefit from a chinese government grant of almost 5 billion vatu.
Vanuatu's Prime Minister, Charlot Salwai Tabimasmas said that this is part of a Chinese government grant which will be a development grant.
Mr Salwai told VBTC News that discusions were held between himself and China's President, Xi Jingping during the APEC summit and an agreement was reached on a new development grant which he said is roughly 4.8 billion vatu.
In another related news,
The China has forgiven Vanuatu of its loan interests of 325 million vatu.
This was signed following an MOU between the two countries' heads of government at the recent APEC meeting in Papua New Guinea.
VBTC News reporter, Gabriel Vusilai was present at the meeting and reports that the loan was taken to build the Melanesian Spearhead building in Port Vila.
The interest pardon comes as a huge relief to the government of Vanuatu.