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Thursday, 09 June 2011

Europe's biggest bank courts Samoa

When New Zealand journalist John Campbell broke his tsunami story internationally, many commentators theorised that overseas donors and financiers would stonewall Samoa. Those commentators’ theories were thrown in the rubbish as Vice President for the European Investment Bank (EIB) came to Apia essentially with an open and blank cheque book. Plutarchos Sakellaris confirmed to a media conference that EIB will continue a bigger and better partnership with the Development Bank of Samoa (DBS) and will discuss with government, “projects on infrastructure, ports, airports, renewable energy generation and other telecommunications needs” to increase economic growth. At the same time, they are looking at ways to increase their lateral engagement in Samoa’s economy. What form that takes was to be determined in a meeting with Prime Minister Tuilaepa Sa’ilele Malielegaoi late yesterday.

Source: Samoa Observer