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Chinese banks finance $2.6 billion Baha Mar in the Bahamas

March 3rd, 2011 2 comments

The Bahamas has been hit hard by the financial crisis in developed countries and the resultant dwindling tourism. Back in July of 2010, China Daily reported two agencies approved for financing the Baha Mar resort in the Bahamas, enabling much needed job creation. The resort is the largest of its kind in the Caribbean. In this report, construction officially started few days ago. The resort is slated to open in late 2014. Chinese Ambassador Hu Dingxian said to Bahamians during the ground break ceremony, “China is committed to an economic relationship of cooperation and mutual benefit.”
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