Tag: AIIB

PHL, AIIB sign $750-m loan agreement on co-financing for COVID-19 response

(Eagle News)–The Philippines has signed a $750-million loan agreement with the Asian Infrastructure Development Bank to help boost the government’s COVID-19 efforts. According to the DOF, the loan accord cements AIIB’s commitment to co-finance with the Asian Development Bank (ADB) the Philippines’ COVID-19 Active Response and Expenditure Support (CARES) program. The loan agreement signed with the ADB would allow the Philippines to access loans worth $1.5 billion. Finance  Secretary Carlos Dominguez III and AIIB Acting […]

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Philippines taps China-backed AIIB to fix infrastructure

MANILA, Philippines (AFP) — Philippine President Rodrigo Duterte has tapped a China-backed multilateral lender to help fund his government’s “unprecedented infrastructure buildup”, the finance minister said Monday, as he seeks closer relations with Beijing. The Beijing-based Asian Infrastructure Investment Bank (AIIB) has been viewed by some as a rival to the World Bank and the Philippines-based Asian Development Bank (ADB). Duterte has vowed to boost spending to address crumbling infrastructure, saying he would seek funds from […]

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IMF looks forward to collaboration with AIIB

The International Monetary Fund (IMF) is looking forward to cooperating with the China-initiated Asian Infrastructure Investment Bank (AIIB), said an IMF official on Tuesday. Chikahisa Sumi, assistant director of the Asia and Pacific Department of the IMF, made the remarks at a forum attended by IMF officials and members of U.S. think tanks in Washington, D.C. “Infrastructure investment need is huge, is simply huge. And then infrastructure investment is very productive investment. And then, it […]

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