PH to borrow $100 million from AIIB for flood control project

1/29/2022 4:30:00 PM

The Philippines will borrow $100 million (about P5.1 billion) from the Beijing-based Asian Infrastructure Investment Bank (AIIB) to roll out flood control and water disaster resiliency projects at

The Philippines will borrow $100 million (about P5.1 billion) from the Beijing-based Asian Infrastructure Investment Bank to roll out flood control and water disaster resiliency projects at river basins in northern Luzon and Mindanao. READ:

The Philippines will borrow $100 million (about P5.1 billion) from the Beijing-based Asian Infrastructure Investment Bank (AIIB) to roll out flood control and water disaster resiliency projects at

The AIIB chunk of the proposed financing will cover the river basins of Abra in Luzon as well as Agus (Ranao) and Tagum-Ligubanon in Mindanao. Separate ADB documents showed that three other river basins will be included in the project: Apayao-Abulog in Luzon, Jalaur in Visayas, and Buayan-Malungon in Mindanao.

The DPWH project was aimed at reducing flood risks in these river basins while enhancing flood and climate change resilience in the surrounding communities.The AIIB said its forthcoming financing “will contribute to the improvement of the national flood risk management by strengthening the institutional and technical capacity of key governmental agencies, both at the central and regional level, and local communities, and by investing in the rehabilitation and construction of flood protection infrastructures.”

Read more: Inquirer »

Utang nanaman! Haha this country is not worth dying for Yung paalis ka na pero gusto mo pa din nakautang ulit puro utang na lang 🙄 Magbabaon muna bago umalis sa pwesto..kawawa ang papalit sasalo sa malaking pagkakautang.. LAST HURRAHRAH! Isang kurakot pa, para ‘kampante’ at busog na ang bulsa! Hmmmm…. Borrowing money from a China-backed lender for Northern Luzon and Mindanao during election season and towards the end of this admin’s term smells so fishy.. The use of this money should be be tightly guarded. We Filipinos will end up paying for that loan

Hope we'll never be 2nd class citizen in our own country if and when debt trap happens Ganiyan yata pag nananahimik, may niluluto. We do need the infra boost. My only question is what mechanisms are in place to make sure the financing goes the stated use of proceeds. Long-term gestation projects will not happen during this admin and we are not clear on the identity of the next one.

Ayan ang build build build ni Du💩. Puro utang. Utang na loob!

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Borrow again from china? My gad. Wag na po nating iboto ang mga alipores ng china. Plunder again? Utang na loob!!! Wow utang na naman magkano ba ang mga commission nya. Nga byways utang ng utang Matindi talaga itong Duterte admin… What's the collateral here? Perhaps one day we'll wake up with China owning one of our ports or airport like in other countries? Plus, arbitration will be in Beijing again using Chinese as default language in case of dispute.

The new provinces of China? Territory as payment?😭😭😭 Wow daming nilulutong project at the very end. Saan kaya gagamitin ang pondo? 4 Billion pesos will go to all 'in-cahoots' and the remaining 1.1 Billion pesos will be for the 'SHOW and TELL' project. there goes my tax

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Woww ha dagdag nnman po sa utang na iiwan ni digz oh well 11+++Trillion na mga peepz ojivapo🤣🤣🤣

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Landbank-UCPB merger takes effect on March 1 The AIIB chunk of the proposed financing will cover the river basins of Abra in Luzon as well as Agus (Ranao) and Tagum-Ligubanon in Mindanao.In a taped report, DOST Secretary Fortunato “Boy” de la Peña said he met Israeli Ambassador to the Philippines Ilan Fluss online on Jan.For the very first time, the Philippine Red Cross (PRC kicked off its annual Million Volunteer Run virtually, the organization said on Thursday, Jan.By: Dale Rosal - CDN Digital | January 28,2022 - 12:55 PM The Philippine Women’s National Football Team (PWNFT) Malditas gather to celebrate after scoring a goal against Indonesia during their AFC Women’s Asian Cup match on Thursday evening in India.

Separate ADB documents showed that three other river basins will be included in the project: Apayao-Abulog in Luzon, Jalaur in Visayas, and Buayan-Malungon in Mindanao. The DPWH project was aimed at reducing flood risks in these river basins while enhancing flood and climate change resilience in the surrounding communities. “The priority and the specifics of the cooperation identified were on the innovation, ecosystem which will focus on technology-based enterprise incubation and acceleration,” de la Peña said. The AIIB said its forthcoming financing “will contribute to the improvement of the national flood risk management by strengthening the institutional and technical capacity of key governmental agencies, both at the central and regional level, and local communities, and by investing in the rehabilitation and construction of flood protection infrastructures. It kicked off on Jan.” Specifically, the upcoming AIIB loan will finance strategic flood risk management planning; building of flood protection infrastructure; and community-based flood risk management. Partnership on drug discovery and drug commercialization, as well as the establishment of the Virology Science and Technology Institute will also be explored. “Consultations have been carried out and are ongoing, in the three river basins” to be covered by the AIIB loan, it said. Thailand is at third with three points and Indonesia finished at the bottom.

The AIIB acknowledged environmental and social impacts of the project, especially among households living near riverbanks and flood-prone areas. “The Embassy shared its plan to establish Smart Agriculture Centers in Philippines Universities which will serve as centers to demonstrate Israeli technologies, conduct trainings, and local research. “Isa itong paraan upang makapag-raise ng funds to support our operations for COVID-19 and Typhoon responses. “The project’s potential environmental impacts are associated with the construction of the physical works. These works are small in scale, occurring within modified agricultural landscapes, mostly away from settlements and sensitive receptors. These potential impacts are typically localized, short-term and small in scale, and can be effectively mitigated through the application of appropriate construction practices,” the AIIB said. Dick Gordon said. ADVERTISEMENT “The project’s structural measures have anticipated impacts that include: permanent loss of land, loss/damage to structures, loss of crops and trees, loss of income/business, restriction to access to resources, increased vulnerability, temporary loss or disruption of land use or other assets during construction works particularly due to the movement of construction materials to and from work sites, and impacts to indigenous peoples/ethnic groups. Before converting their first goal, the Malditas were already relentless on their offense with Sarina Bolden making the first attempt via a penalty kick which only hit the goal post.

Corresponding management plans are being prepared to address both land acquisition impacts as well as impacts on indigenous people/ethnic group communities,” the bank added. Once approved in December 2022, this will be the Philippines’ fifth AIIB loan, and the second flood control project financing. Registration is still ongoing for those who want to participate in the event. The three other loans totaling $1.3 billion, for projects also co-financed by the ADB, were for COVID-19 response, including the purchase of vaccines, boosters and pediatric shots. In November 2021, the AIIB flagged the still sluggish disbursement of its $207. “Join the Philippine Red Cross Million Volunteer Run 6, and together let us bike or run and make humanitarian services available to communities affected by the pandemic. Annis fired a shot from the distance after securing a loose ball.

6-million loan for the Metro Manila flood management project. “Project implementation has been progressing slower than originally agreed timelines. The COVID-19 pandemic has significantly impacted the project progress, particularly procurement process since March 16, 2020,” the AIIB said.com,” PRC said. The AIIB nonetheless said that construction of Balut pumping station had been completed and it “functioned well” when typhoon “Ulysses” battered the country in November 2020. In the current fourth quarter of 2021, contracts for Labasan and Paco pump stations were expected to be awarded, and “procurement will be followed shortly for remaining pumping stations,” the AIIB said. /bmjo.

Following the latest disbursement of $4.2 million last July, a total of just $10.9 million or merely 5.3 percent of the AIIB’s commitment had been disbursed since the loan was approved in 2017. The AIIB, the World Bank, and the Philippine government have been co-financing the $500-million project currently jointly implemented by the Department of Public Works and Highways (DPWH) and the Metropolitan Manila Development Authority (MMDA).

This project would protect 1.7 million residents near 56 “potentially critical” drainage systems across 11,110 hectares of flood-prone areas in Metro Manila. Upon project completion in 2024, these areas should be free of water within 24 hours after a major rainfall. Subscribe to our business newsletter By providing an email address. I agree to the .