By Alito L. Malinao

The Philippine Daily Inquirer-Aug 4

In order to finance its ambitious “Build, build, build” program, the Duterte administration would need the infusion of massive foreign loans. In the past, the Philippines depended on the World Bank, the International Monetary Fund and other Western financial institutions. Now, our main source of loans is China.  In his first visit to China in October 2016, President Duterte signed a cooperation agreement with Chinese President Xi Jinping, with Beijing pledging to provide funding for 30 projects in the Philippines worth billions of dollars.

Read more: http://opinion.inquirer.net/115119/beware-chinese-loans-ph#ixzz5NoNnn0wW

First published in: The Philippine Daily Inquirer