“China has the money and wants to share it,” Duterte says

Manila, May 16 (APD) – Philippine President Rodrigo Duterte said one thing is clear with the recently-launched Belt and Road Forum, that China has the financial resources and wants to share it.

Speaking at a press conference in Davao City before 3:00 A.M. today from a trip to Beijing, President Duterte said “the rationale behind it (Belt and Road Forum) is really China would want a peaceful region because it is for the region that translates in more prosperity for the China.”

He said China is very liberal and generous as he said the country has about RMB 100 million coming in and promised another RMB 500 million.

President Duterte said the Chinese government has donated two bridges to be built across Pasig River to decongest the already filled-up avenues.

“They are eager to start the other projects such as the railways and they want to start this year,” he added as he expressed hope to see both sides moving before year-end.

Asked how the agreements signed last October 2016 would turn to reality, President Duterte said the Chinese are using the banks.

He said businessmen from China or elsewhere can participate in the bidding.

“I just can’t give you the exact amount but to date, almost RMB 100 has arrived,” he explained.

The projects will immediately begin after Filipino government officials have announced the bidding.

Small and medium industries could receive funding from the banks through the Department of Trade and Industry.

“Our agriculture is back to normal and we’re back exporting bananas and everything we could send the Chinese,” he added.

(ASIA PACIFIC DAILY)