Taiwan, St. Vincent in talks on development bank, social funding: MOFA

Taipei, Aug. 25 (CNA) Taiwan is in talks with St. Vincent and the Grenadines on funding a national development bank and several social empowerment projects in the Caribbean country, the Ministry of Foreign Affairs (MOFA) said Tuesday.

"I would note that these projects remain under active discussion; nothing has been finalized yet," MOFA spokesman Hsiao Kuangwei (蕭光偉) said during a weekly briefing.

Both sides are engaging in in-depth discussions on the issues, Hsiao said, adding that Taiwan will continue to work closely with the government in its Caribbean ally to help it implement policy priorities within Taiwan's capabilities.

Hsiao made the remarks when asked to comment on St. Vincent and the Grenadines Prime Minister Godwin Friday's remarks last week that Taiwan had pledged at least US$2 million in grant funding to help establish a national development bank during his visit to Taipei from Aug. 11 to 15.

Taiwan also promised to provide US$1 million annually in grant funding for social and community empowerment programs, Friday said at a news conference on Aug. 18.

The prime minister also said his visit to Taiwan had produced a range of opportunities for St. Vincent and the Grenadines.

"This trip gave us a lot of possibilities. Some of them will bear fruit more quickly than others, but we are moving towards that," he was quoted as saying by Vincentian media.

Friday visited Taiwan earlier this month, his first trip to Taipei since taking office in late 2025, to mark the 45th anniversary of the two countries' diplomatic ties.