10 Feb 2006

Taiwan to loan about about 12 million US dollars to Nauru so it can buy back its plane

2:50 pm on 10 February 2006

The Taiwanese ambassador to Nauru says his country will be extending around 12-million US dollars to help Air Nauru to buy back its plane, repossessed by the EXIM Bank in the United States late last year.

Since then Air Nauru has only been able to run two flights a week using charters.

King Y Yu believes negotiations between the Nauru government and Exim Bank will begin early next week.

Ambassador Yu says it is not a concern for his Government that Nauru has previously defaulted on loans for the plane.

"We don't consider that. We just consider that to take the aircraft back, that is the most important thing. Taiwan would like to do with our pleasure. And as far as the loan is concerned, we will talk about it later on."

The Taiwanese ambassador to Nauru, King Y Yu.