Delay in Cook Islands sporting complex loan
Updated
The Cook Islands government says there has been a delay in the signing of a $US9.88 million Chinese loan.
The money will help prepare Rarotonga for the World Netball tournament and Pacific Mini Games, which the country will host back to back next year, including the construction of an indoor sports complex.
The Cook Islands government was expecting to sign off the loan during a visit to the islands by the Chinese ambassador to New Zealand.
However, on Friday the ambassador called on the deputy prime minister and finance minister Sir Terepai Maoate, minus the loan documents.
Financial Secretary Sholan Ivaiti says that the final loan documentation is still being finalised by the Exim bank in Beijing, and it is likely the loan will be signed in New Zealand next week.
