PH, China now bosom buddies with infra grants
China’s loans to Manila show “understanding and sympathy” from the country’s newest brother.
Finance Secretary Carlos Dominguez III said credit lines from China is a show of Beijing’s sincerity in helping the Philippines prosper.
Said that China?s grants for the construction of drug rehabilitation facilities and bridges in Manila indicate its ?understanding and sympathy? for the challenges faced by the Philippine government as the Duterte administration moves toward achieving its goal of a truly inclusive economy.
?These projects indicate China?s understanding and sympathy for the challenges that confront our people as we move forward towards a truly dynamic and inclusive economy,? Dominguez said in a statement.
China extended a $99.27 million loans for the construction of two bridges in Manila as well as $22.95 million for drug rehabilitation facilities, which are part of the priorities of the Duterte administration.
“More than that, they symbolize the friendship we are building between our two peoples,? Dominguez added.
Tensions between the nations have eased despite conflicting claims over the islands located in the South China Sea, although that seems to be set aside as far as borrowings are involved.