Finance Undersecretary Mark Dennis Y.C. Joven told the Inquirer that the Beijing-based lender approved on Thursday night the fresh financing to be used in fighting COVID-19.
As earlier reported by the Inquirer, the AIIB will co-finance the Manila-based lender Asian Development Bank’s COVID-19 active response and expenditure support program.Prior to this COVID-19-related loan, the Philippines had only availed itself of one loan from the AIIB —$500-million worth in 2017 for the Metro Manila Flood Management Project, which was co-financed by the Washington-based World Bank.
Reduction of poverty rate to less than 18 percent by April 2022 from 20.7 percent projected last April As of mid-May, the Philippine government had borrowed from foreign lenders and secured grants worth a total of nearly $5 billion for COVID-19 response.The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of Cebudailynews. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
They never publish the intrest rate we will have to pay. The tax burden will be on the children not the borrowers. Sad
Myyygaaash ugh
😡🇨🇳😡🇨🇳😡
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