El Salvador will receive US$150 million from China for social and technological development projects, according to President Salvador Sanchez Ceren, who recently returned from a visit to the Asian nation.
Last August, El Salvador broke diplomatic relations with Taiwan and established them with China, joining Panama and Dominican Republic, which both also broke ties with Taiwan in this year. San Salvador's action has caused concerns in Washington, about the Asian giant's influence on the Central American region.
"This historic meeting between the governments of the People's Republic of China and the Republic of El Salvador has left excellent results for work and collaboration," Sanchez said, stressing that "the establishment of the diplomatic relations with China is my administration's most important foreign policy decision."
While in China from Nov. 1 to 5, the Salvadoran president met with Chinese President Xi Jinping and signed some 13 cooperation projects.
The US$150-million donation will not be reimbursable, Sanchez explained, adding that China will donate 3,000 tons of rice, which are to be used to relieve the needs of thousands of Salvadorans affected by a drought in July and floods in October.