Philippines hopes China would match loans from Japan: envoy
The Philippine government hopes that China would be able to match the Official Development Assistance (ODA) provided by Japan, Philippine Ambassador to China Jaime FlorCruz said in a weekly news forum on Saturday.
"Yes. We need to distinguish commercial loans and government loans or government-to-government loans. What we are hoping is that China will be able to match, for example the loans from Japan in better terms and the grace period," FlorCruz said when asked about the high interest rates imposed by China on its loan compared to Japan.
However, FlorCruz said it will depend in the negotiation between the government agencies involved in the loan projects.
"We need to maximize the benefit, only few countries can offer loans, and China happens to be one of them. Our goal is to seek the best terms if we are taking out loans, for example in railway or other infrastructure projects," he said.
"That is right it should at least match, if we're going to look for loans, we go to the best source," he added.
FlorCruz noted that "the government wants to revive the discussion about loans like in trade, railway projects or other projects."
"So we hope to get the best deal from China, as well as from Japan or whoever else is willing to give us, you know, beneficial loans. But, it’s a commercial and government-to-government level negotiation that we hope we can revive," he said. Robina Asido/DMS
