South Korea Offers Philippines $1-Billion in Loans

South Korea is offering $1 billion in concessional loans over a six-year period to finance key infrastructure programs of the Philippines. Transport, ICT and energy infrastructure were identified as priority areas in the proposed cooperation. Both countries are set to finalize the framework agreement in August 2017. Aside from Korea, Japan and China had earlier pledged a combined $33 billion in investment and aid to the Philippines…

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