China to donate ₱1-B for Marawi rehab, signs 14 deals with PH

The aftermath of the terrorists attack in Marawi City was really terrifying. To aid the Marawi City from devastation, the government may have to spend more than the initial estimate of P20 billion for the reconstruction and rehabilitation of Marawi City according to Budget Secretary Benjamin E. Diokno said.
Helps and Donations from other countries, celebrities, statesmen, big companies and etc. are still coming in to boost the rehabilitation of Marawi City.
November 15, Wednesday, China Premier Li Kequiang announced that his country will give RMB150 million (P1.15 billion) for the rehabilitation of the war-torn, Marawi City, during his visit in Malacañang which is the first time that Chinese Premier visited the country in 10 years.

"This shows the great strides that we have accomplished in the bilateral relations between our two countries since I assumed [office]," Duterte said.

The said donation will be used for reconstruction and improvement of the livelihood in the city, that Li confidently believes and told President Rodrigo Duterte, that it would help for the fast recovery of the city and its affected residents.

The two countries' efforts have "secured peace, stability, and development in the region."

Because of this, Duterte said at-some-point in the future, he cam discuss with Li the issues pertaining to trade, education, and interpersonal exchanges.

According to Li, the Philippines has become its Top Trading partner for the past 10 months.

Marawi aid included on the agreement

In total, China has committed ted $7.34 billion soft loans and grants for the implementation of 10 big-ticket projects, the construction of two bridges in Metro Manila, and two drug rehabilitation facilities in Mindanao according to The Department of Finance on Wednesday.

The Marawi aid is included in this package, under the Agreement on Economic and Technical Cooperation that signed by the two countries:

* economic and technical cooperation
* the Second Basket of Key Infrastructure Projects Cooperation
* projects about drug treatment and rehabilitation centers
* project for two bridges across the Pasig River
* development of industrial parks
* the Philippine National Railways South Long Hall Project
* production capacity and investment
* climate change
* defense industry cooperation
* intellectual property
* youth cooperation
* financing cooperation on the Chico River Pump Irrigation Project and the New Centennial Water Source-Kaliwa Dam Project
* the Republic of the Philippines 2017 Renminbi Bond Issuance Underwriting Agreement
* the Bases Conversion and Development Authority and China Development Bank

In stressing its full support for the Philippines'
infrastructure program,

To show its willingness and sincerity to help the Philippines on its problem on Marawi City rehabilitation, Li proposed that the two countries meet again to craft a 5-10 years cooperation plan for infrastructure.

Duterte was congratulated by the Chinese Leader for the success of the 31st ASEAN Summit, that Duterte hosted, and removed the mentality of people on the friendship between the Philippines and China that can’t be revived.


China to donate ₱1-B for Marawi rehab, signs 14 deals with PH China to donate ₱1-B for Marawi rehab, signs 14 deals with PH Reviewed by TrendStarNews on 12:47 PM Rating: 5

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