Lithuania: Taiwan to set up $1B credit fund amid China spat

VILNIUS, Lithuania (AP) — Taiwan will set up a $1 billion credit program aimed at funding projects by Lithuanian and Taiwanese companies amid economic pressure from China over an office that the island opened in the European Union country. Lithuanian officials announced the move Tuesday. It follows Taiwan’s announcement last week about creating a $200 million investment fund to help Lithuania amid a diplomatic row with Beijing. Lithuania agreed a de facto Taiwanese embassy in its capital would bear the name Taiwan instead of Chinese Taipei, which other countries use to avoid offending Beijing. China considers Taiwan part of its territory with no right to diplomatic recognition.