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Less than two weeks before it steps down, the Duterte administration’s Build, Build, Build program secured a new loan from China for the construction of a bridge connecting Davao City and Samal island in Mindanao, the Department of Finance (DOF) announced on Tuesday.
The Government of the People’s Republic of China will finance the construction of a P19.32 billion two-way, four-lane bridge connecting Davao City and the Island Garden City of Samal in Mindanao, the Department of Finance (DOF) announced. In a statement on Tuesday, June 14, the DOF said the Philipp
China’s loan commitments to the Philippines have reached $1.1 billion, or close to P59 billion, after the Duterte administration received its first-ever financing in Chinese renminbi.
THE Philippines borrowed 2.34-billion renminbi (about P17.39 billion or $362 million) from China to fund the construction of a 2-way, 4-lane bridge expected to cut travel time from Davao City and the City of Samal in Mindanao. The concessional loan for the Samal Island-Davao City Connector (SIDC) project is also…
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