Chinese envoy insists grants have no strings attached
MANILA, Philippines — In an attempt to allay fears that the Philippines is at risk of falling into China's debt trap, Chinese Ambassador Zhao Jianhua stressed that the loans will not have negative impacts to the country.
"Chinas’ grants do not have strings attached to them," Zhao said at the groundbreaking of two China-aid bridges project over Pasig River.
The project is seen to improve the capacity and efficiency of road transport in Metro Manila, according to the Chinese Embassy.
In his speech, the Chinese envoy said that President Rodrigo Duterte and his economic management team will not allow the Philippines to fall into the so-called debt trap.
"China will honor this commitment to make sure those projects will benefit the Filipino people and will not have any negative impact on the socio-economic development of the Philippines," Zhao said.
Duterte, meanwhile, expressed his gratitude to China for funding the construction of the two bridges.
"As a friend, China has once again proved they intend to join us in achieving lasting progress by addressing traffic congestion in Manila," Duterte said.
Beijing has loaned Manila P4.243 billion for the construction of the Binondo-Intramuros bridge and P1.229 billion for the Estrella-Pantaleon bridge. The construction project is expected to last for 30 months and 23 months, respectively.
"They will enhance the views of the riverine area and contribute to local tourism," the Chinese Embassy said in a statement.
The constrution of two new bridges is part of the government's program to address road congestion in the country's capital.
According to DPWH Secretary Mark Villar, the construction of the bridges is part of a traffic management plan composed of 12 bridges crossing the Pasig and Marikina rivers. — Patricia Lourdes Viray
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