China to finance study for Visayas bridge project
The Chinese government has agreed to extend a $13.4 million grant to the Philippines for the feasibility study of the Panay-Guimaras-Negros Island Bridge Project, the Department of Finance (DOF) said.
Public Works Secretary Mark Villar and China International Development Cooperation Agency (CIDCA) chairman Wang Xiaotao signed the exchange of letters for the grant during a meeting in Beijing last week.
The DOF said the proposed bridge project is envisioned to link the islands of Panay, Guimaras and Negros in the Visayas region.
In addition, the DOF said Socioeconomic Planning Secretary Ernesto Pernia presented 12 big-ticket infrastructure projects that will undergo feasibility studies proposed for Chinese grant financing.
These include the future phases of the Mindanao Railway Project, the Luzon-Samar (Matnog-Alen) Bridge, Dinagat (Leyte)-Surigao Link Bridge, Camarines Sur-Catanduanes Friendship Bridge, the Luzon Eastern Seaboard, Bohol-Leyte Link Bridge, Cebu-Bohol Link Bridge, Negros-Cebu Link Bridge, Ipo Dam No. 3, Port Irene Development-Navigational Channel, Cabadbaran Small Reservoir Irrigation Project, and the River Basin and Watershed Management Project in Camarines Sur.
“These projects are selected considering geographic spread, the size of the investment requirement, and the Duterte administration’s focus on connectivity, rural development and disaster prevention, among other considerations,” Pernia said.
CIDCA is China’s new organization responsible for administering foreign aid and development assistance to other countries. CIDCA was among the reforms unveiled by China during its National People’s Congress held last March.
Wang said the Philippine team led by Dominguez was the first high-level delegation CIDCA has met since its establishment in April this year.
“This truly shows that China gives great importance to the promotion of its bilateral relations with the Philippines,” Wang said.
Wang also assured Dominguez that China, through CIDCA, will continue to provide assistance to the Philippines.
During the meeting, Dominguez also suggested the creation of a technical working group composed of officials from the Chinese embassy in Manila, and Philippine officials from the National Economic and Development Authority, Department of Foreign Affairs, Department of Finance and the Philippine embassy in China to further discuss CIDCA’s operational procedures.
Dominguez also asked Wang to consider assigning a CIDCA portfolio officer for the Philippines.
Wang, in response, welcomed Dominguez’s recommendations, saying they were “very necessary.”
Following the meeting with CIDCA, the Philippine delegation also met with ExportImport Bank of China (China EXIM) chairperson Hu Xiaolin to further discuss loan financing and co-financing arrangements for the Philippines’ infrastructure projects.