Finance Secretary Carlos Dominguez III, who went to China as part of Philippine delegation, said Davao-Samal Bridge Project in Mindanao and the Panay-Guimaras-Negros Interisland Bridge Project in Western Visayas are two projects in the pipeline for possible Chinese financing.
“We want to assure you that the funds provided by the Chinese people through the Chinese government are going to be used to the benefit of the Filipino people,” Dominguez said during a meeting with People’s Republic of China Vice President Wang Qishan.
Two bridge projects that will help ease traffic in Metro Manila – the Binondo-Intramuros and Estrella-Pantaleon Bridges – are being implemented by the Department of Public Works and Highways (DPWH) funded through a 397 million renminbi (US$63.13 million)-grant from China.
The finance chief also thanked China for providing concessional loan financing for the Chico River Pump Irrigation Project and the New Centennial Water Source-Kaliwa Dam project.
Philippines and China are also working towards beginning the implementation of two rail projects–the Subic-Clark Railway Project in Luzon and the Mindanao Railway Project, Dominguez added.