"I wouldn't expect that it would be signed today, but what we will do is progress it, Albanese said in a radio interview with the Australian Broadcasting Corporation on Tuesday morning. list of 4 itemsend of list Vanuatu politics can be very complex, he said. In a ceremony last month, Australia initialled a deal worth 500 million Australian dollars ($326.5m) to strengthen economic and security ties with Vanuatu."
"Vanuatu Prime Minister Jotham Napat said at a news conference that the delay in signing the pact was due to his government's coalition partner being concerned that the deal would limit Vanuatu's access to infrastructure funding from other countries. Beijing is Vanuatu's largest external creditor, after Chinese banks extended loans to Vanuatu to pay Chinese companies to build infrastructure, including a presidential office complex, the nation's parliament, and roads."
Australian Prime Minister Anthony Albanese, visiting Vanuatu, said the Nakamal Agreement would not be signed immediately but would be progressed. Australia initialled a AU$500 million deal last month to strengthen economic and security ties with Vanuatu. The pact is part of Australia's effort to limit Chinese security expansion in the Pacific. Vanuatu's prime minister attributed the signing delay to a coalition partner's concern that the deal could restrict access to infrastructure funding from other countries. Beijing is Vanuatu's largest external creditor after Chinese banks funded major infrastructure projects. The Nakamal Agreement extends to climate resilience and economic development.
Read at www.aljazeera.com
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