The Chinese and Philippine governments signed a memorandum of understanding to forge economic partnership covering the areas of rehabilitation of textile mills and garments factories, industrial parks and economic zones, information and communications technology-based education agriculture and fishery, tourism, housing and infrastructure and energy and power.
China and Japan will be extending billions in concessional loans to fund government infrastructure and other social services projects.
Chinese government is proposing to release US $2 billion each year in the next three years totaling $6 billion while Japan Bank International Corp. will loan a one-time amount of $1-2 billion next year.
marketing@alchempro.com
