RP housing gets P13-M funding from China

China handed the Philippines P13 million in assistance yesterday to finance a feasibility study on the RP-China housing development program.

Vice President Noli de Castro, Housing and Urban Development Coordinating Council chairman, and HUDCC officials received the assistance on behalf of the Philippine government in a ceremony at the Office of the Vice President in Pasay City.

"This is a significant event as it marks the start of a partnership between the two governments in the area of housing," he said.

De Castro thanked the Chinese government represented by Ambassador Li Jinjun, Counselor Liang Wentao and other officials of the Chinese Embassy in Manila.

The Philippine and Chinese governments held talks regarding the housing development program of the two countries.

De Castro said the assistance will come from the Renminbi Yuan grant covered by the agreement on economic and technical cooperation.

The agreement was signed by the National Economic and Development Authority (NEDA) and China’s Ministry of Commerce on Jan. 15, 2007. – Pia Lee-Brago