(Manila Comprehensive) The Philippine government has canceled the China loan application of three railway projects.The local think tank refers to the Philippines to avoid the "debt trap" and urge the government to review other agreements reached with Beijing and Beijing.
The Dean of the Philippine Think Tank International Institute of Strategy (Stratbase ADR Institute), Manchit, told the Philippines daily inquiries: "The loan of these three railway projects allows the Philippines to avoid China's debt trap because China's loan agreementDisted by Japan. "
These three railway projects are the first phase of the Subic -Clark Railway, the long -distance route of the southern part of Luzon Island National Railway, and the first stage of the Mianlan Old Island Railway."Political Heritage".
Former Treasury Minister Domino canceled his loan application before he stepped down, but he insisted on Saturday (July 16) that China provided financing for some large -scale infrastructure projects in the Philippines to the Philippines, and Chinese loans and Japan or other loansFang's low -interest loan is equivalent.
Chavez, deputy minister of transportation, disclosed when the loan announced the cancellation of the loan on Friday that the Chinese lender, that is, the interest rate required by China's import and export banks is 3 %, which is much higher than the 0.01 % interest rate of Japan.
He also said that the Chinese government did not take action on the Duterte government's request, so the loan agreement of these three projects has been revoked.The Philippine government is considering other financing plans, including through public and private partnerships.
Treasury Secretary Dowano said that the new government will re -examine these projects. If they are still "valuable", they may apply for loans.Macatus has ordered the Ministry of Transport to re -negotiate a loan agreement with China.
Manchit pointed out that the loans provided by Japan are almost zero interest rates. "As long as it is equivalent to Japan's loan conditions, the Macco government re -examine the negotiation with China is no problem."
He also urged the Pagoda government to review other loan contracts in China, "to strengthen the transparency and accountability of overseas development aid loans, and establish a good principle of governance."
Former Director of the Philippine National Economic Development Agency, Peniab did not think that the Philippines had the danger of falling into the Chinese debt trap.
Puniab explained: "China is just after the Philippines has submitted the necessary project proposal, and it takes too much time to present the names of three candidate contractors and let the Philippine government choose."
A Chinese official who did not want to be named told Reuters that the China -Philippine Railway Cooperation will continue, and China is open to discussions with the Philippines.
There were more than 1,100 kilometers of railways before World War II. As of 2016, it was only 77 kilometers. The operating mileage was much less than many large Asian cities.
