DILI, 11 October 2019 (TATOLI)– Prime Minister Taur Matan Ruak has told Asian Development Bank (ADB) education and sanitation are his two key development priorities for the country heading into the future.
Regional ADB Director-General, Ramesh Subramaniam, said the PM outlined this during a meeting at the Government Palace on Friday.
“One [of his priorities] is that the majority of Timor-Leste people are still young [so] it is important to investment in education, to develop and empower various vocations. The second is: sanitary or clean water, to develop [that] project better than before,” Mr Subramaniam said on Friday.
He said the Mr Taur insisted, during the meeting at the Government Palace, that the ADB write his thoughts down on paper, in an effort to emphasize the point.
Mr Subramaniam said since Timor-Leste first stood up as a nation 20 years ago, the ADB had provided $US 400 million in financial aid. He said there are $US 360 million in active loans as of 2019.
“You see, looking forward, Timor-Leste [will provide] a large investment income. So, ADB is also ready to provide the finances for the areas the Prime Minister spoke [about],” Mr Subramaniam said.
The ADB has lent a total of $US 268 million to the government of Timor-Leste for this year’s budget.
“The ADB has provided two types of lending access: one is loans with a low rate of two per cent or less. Another type is loans with a rate set by the international market; however, at the moment [the rate] is almost at two per cent also,” he explained.
First published in Tetum as: ADB Hala’o Soru-mutuk ho Primeiru-Ministru Taur
Related news: ADB to treat TL as part of ASEAN
Journalist: Hortençio Sanchez
Editors: Xisto Freitas; Robert Baird
Translation: Nelia Borges
