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Gov’t pitching more projects for AIIB funding

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construction worker
AFP

THE PHILIPPINES is seeking Asian Infrastructure Investment Bank (AIIB) funding for more projects, the Department of Finance (DoF) said on Tuesday.

“We look to the AIIB for more immediate and longer-term financing that will guarantee the success of our infrastructure investment program and the strong expansion of our domestic economies,” Finance Secretary Carlos G. Dominguez III said in a speech during the AIIB Governors’ Business Roundtable held in Mumbai, India yesterday, a copy of which was distributed to reporters.

Presidential Spokesperson Harry L. Roque said separately in his press briefing in Davao City on Tuesday morning that President Rodrigo R. Duterte wanted major infrastructure “projects in the provinces implemented faster.”

Asked if the DoF proposed more projects to the AIIB, Mr. Dominguez replied in a text: “We are exploring a possible sectoral loan to finance health care facilities, school buildings and rural roads.”

The AIIB is co-financing the $500-million Metro Manila Flood Management project with the World Bank for $206.603 million each, and the P37.76-billion EDSA Bus Rapid Transit system with the Asian Development Bank. Mr. Dominguez has said the government will pitch the New Centennial Water Source Kaliwa-Dam Project and the North-South Railway Project South Line projects for possible AIIB financing. — E. J. C. Tubayan