YAREN/BEIJING (Government of Nauru/Pacnews) — Nauru Minister for Foreign Affairs Lionel Aingimea, and chairman of the China Rural Revitalization and Development Corporation, Zhang Yong signed on Aug. 5 a phase 1 investment project proposal valued at approximately $651 million, further cementing economic injection for Nauru’s socio-economic development.
Aingimea was accompanied by Deputy Minister Russ Kun and other officials for the meeting with senior executive members of CRRDC in Beijing, China.
Discussions focused on key socio-economic development and advancement for mutual benefits between Nauru and CRRDC.
The Phase 1 Project Proposal is the first of a three-phase step with each phase focusing on developing key sectors in Nauru — renewable energy, the phosphate industry, marine fisheries and sea infrastructure, water resource and environmental system, modern agriculture systems, eco-tourism, green transport system, health and cultural exchange platforms.
A scoping team from CRRDC is scheduled to arrive in Nauru in October, to engage with key local ministries and stakeholders for the development of a successful road-map guideline.
The consultation and implementation phase further anticipate an increase in employment opportunities, trade prospects and people-to-people cultural exchange.
The phase one proposal is a cross-sectoral approach to achieve national objectives and diversify opportunities and resilience for the Republic of Nauru and her people.
