Philippines to Tap P140-B Loan from China

The government is seeking a P140-billion loan from China to finance three major projects, namely an irrigation system in the north, a dam that would serve as an alternative water source for the capital region, and a rail line from Manila to the southern end of Luzon. Economic officials said that they would ask for official development assistance with interest rate of no more than 2% per annum. Negotiations…

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