Active Development AidData Chinese Aid

China's Herbal Medical University/BioMedical Engineering Center provides $28 million USD credit facility for purchase of medicines

$28M USD

Funder	Unspecified Chinese Government Institution
Recipient Organization	Philippine International Trading Corporation (PITC)
Country	Philippines
Start Date	Sep 02, 2004
End Date	Jun 12, 2029
Duration	9,049 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`34766`

Grant Description

China's Herbal Medical University/BioMedical Engineering Center provides $28 million USD credit facility for purchase of medicines On September 2, 2004, Chairman Jiang Zemin of the Central Military Commissions met with President Arroyo of the Philippines in Zhongnanhai.

The two countries signed an agreement to provide a $28 million USD credit facility from Herbal Medical University/BioMedical Engineering Center for the Philippine International Trading Corp for the purchase of medicines. The present status of this project is unknown.

📋 Staff Comments

The funding agency is coded as Unspecified Chinese Government Institution because there is no detailed information of the Herbal Medical University/BioMedical Engineering Center mentioned in the source.

📚 Sources & References

江泽民会见菲律宾总统阿罗约
菲律宾: 与中国关系
中华人民共和国政府与菲律宾共和国政府联合新闻公报
GMA reports $1-B loans & investments from China trip - President Gloria Macapagal Arroyo yesterday trumpeted the multimillion dollar loan for the construction of the North Luzon Railways as one of the best deals she brought home from her three-day state visit in the People’s Republic of China. Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.