China and the Philippines are ramping up their efforts to significantly improve their respective country's economy through rapid infrastructure expansions. The Philippines "Build, Build, Build" program under the Duterte administration is apparently working in conjunction with China's larger scale Belt and Road Initiative.
The Philippine' Finance Secretary, Carlos G. Dominguez announced this week that they have secured substantial financial and economic support from China following their recent courtesy visit to Beijing.
Dominguez, along with several delegates from different governmental agencies, flew to China to visit Chinese Vice President Wang Qishan and officials from the country's Ministry of Commerce. The meeting included discussions about the countries' economic relations, but most importantly it included the topic of deeper cooperation in infrastructure projects in the Philippines.
Duterte's "Build, Build, Build" programs has around 75 major infrastructure projects, which includes airports, seaports, bridges, roads, and railways. Dominguez mentioned in an interview that China fully supports those projects and has extended substantial concessional loans for its construction. Some of the major projects in the program include the New Centennial Water Source-Kaliwa Dam project, which China has funded with a US$211.21 million loan. China also extended a US$62.09 million loan for the construction of the Chico river Pump Irrigation project.
Aside from the two major infrastructure projects, the program also includes the building of two bridges, which should ease the horrendous traffic in the Philippine capital city of Manila. The bridge projects include the Estrella-Pantaleon bridge and the Binondo-Intramuros bridge. Both projects will be built by the country's Department of Public Works and Highways (DPWH) with the help of a US$63.13 million grant from China.
Following his visit, Dominguez also revealed that the Philippines and China will be working together to build two new railway projects in Luzon and Mindanao. This will include the Subic-Clark Railway Project in Luzon and the larger Mindanao Railway Project.
Dominguez is also reportedly in the process of getting further funding for new inter-island bridges, including the proposed Panay-Guimaras-Negros Interisland Bridge Project, which will be built in Western Visayas.
Philippine Finance Undersecretary Mark Dennis Joven also recently led a delegation to meet with officials from the Export-Import Bank of China (EXIM) and the China International Development Cooperation Agency (CIDCA).
Officials of the Chinese firms have reportedly expressed their commitment to further support future infrastructure projects in the Philippines. In a recent interview, Dominguez thanked China for being so generous and supportive of the country's infrastructure projects. He also assured the public that all of the funds that will be provided by China will be used to benefit all of the Filipino citizens.
