Saturday, September 19, 2009

Lets Borrow and Spend.

Timor takes the first step towards becoming a Borrower. No Parliamentary debate, no nothing.

Meeting of the Council of Ministers on September 16th, 2009
The Council of Ministers held, on this Wednesday, September 16th. 2009, a meeting, in its meeting room, at the Government House, in Díli, and approved.
3. Memorandum of Understanding with Portugal for attribution of a line of credit.
This line of credit aims to finance the investment projects in Timor-Leste, by involving the acquisition of portuguese goods and services or the participation of portuguese companies (without prejudice of the associated local component).
The areas intended to this Line of Credit will be: construction and rehabilitation of roads and bridges; construction and rehabilitation of physical infrastructures, including Health and Education; construction and rehabilitation of infrastructures of transport and communications; and the production, transportation and distribution of energy and water.