Beijing meet for PH infra team
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Image from The Economists Journal The meeting will tackle progress and updates on the infra projects through Chinese loans dubbed as the first basket
The Philippines and China will meet in Beijing this week in line with China’s commitment to support the government’s Build, Build, Build program via loans and grants.
“The high-level meetings will focus on strengthening and enhancing our bilateral engagement and cooperation. We express the hope that a number of bilateral documents would be presented and signed during the meeting, among them the exchange of letters for the feasibility study of the Panay-Guimaras-Negros Inter-Island Bridges Project,” the Department of Finance (DoF) said.
The Philippine delegation will be led by Finance Secretary Carlos Dominguez III. Budget Secretary Benjamin Diokno, Socioeconomic Planning Secretary Ernesto Pernia, Transportation Secretary Arthur Tugade, Public Works and Highways Secretary Mark Villar and President-CEO of Bases Conversion and Development Authority (BCDA) Vivencio Dizon complete the lineup.
The meeting, set on 22 to 24 August, will tackle progress and updates on the infra projects through Chinese loans dubbed as the first basket.
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This includes the Chico River Pump Irrigation Project, New Centennial Water Source-Kaliwa Dam Project, Philippine National Railways’ South Long Haul Project, and the Davao-Samal Bridge Construction Project as well as bridges for Binondo-Intramuros and Estrella-Pantaleon, said DoF.
Infra projects under the second basket will also be discussed in the meeting including the Ambal-Simuay River and Rio Grande de Mindanao River Flood Control Projects, the Pasig-Marikina River and Manggahan Floodway Bridges Construction Project, the Subic-Clark Railway Project, the Safe Philippines Project Phase I and the Rehabilitation of the Agus-Pulangi Hydroelectric Power Plants Project.
Foreign Affairs Secretary Alan Peter Cayetano is also expected to join the Philippine delegation.
Meanwhile, the Agreement on Economic and Technical Cooperation involves a 500 million renminbi grant (approximately $79 million or P4.13 billion) to finance the following projects and activities:
• Binondo-Intramuros and Estrella-Pantaleon bridges in Metro Manila of the Department of Public Works and Highways (DPWH) (RMB 264.8 million, partial funding)
• The conduct of feasibility study for the Davao City Expressway Project of DPWH (RMB25.83 million)
• The provision of radio and broadcasting equipment to the Presidential Communications Operations Office (RMB17.82 million.
• Philippine-Sino Center for Agricultural Technology-Technical Cooperation Program Phase III of the Department of Agriculture (RMB27.52 million). The total grant for these four projects amounts to renminbi 335.97 million. Joshua Lao
