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Bank of China provides USD 3 billion credit facility to the Philippines in 2016 (linked to Record ID#s #49277 and #65253)
| Funder | Bank of China (BOC) |
|---|---|
| Recipient Organization | Government of the Philippines |
| Country | Philippines |
| Start Date | Oct 20, 2016 |
| End Date | Oct 18, 2032 |
| Duration | 5,842 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 49832 |
Grant Description
Bank of China provides USD 3 billion credit facility to the Philippines in 2016 On Oct. 20, 2016, the Bank of China pledged to give the Philippines a $3 billion credit facility.
This makes up $9 billion in soft loans from China to the Philippines in exchange for agreeing to return to the negotiating table to settle a dispute in the South China Sea, with the other $6 billion coming from soft loans from the Chinese government (recorded in Record ID#49277).
According to "菲中小微企业可从中国银行获得贷款," the $3 billion credit facility is directed towards SME's and matching the Filipino companies with Chinese companies to "expand or to build joint ventures".
This project is linked to Record ID#65253, a USD $220 million Bank of China loan to Chelsea Logistics in 2017, which is financed through the $3 billion loan recorded in this project.
Sources & References
- PH bags $13.5B in deals from China
- China offers $9B in soft loans for PHL's drug program, other projects
- Philippines
- China sign $24-B deals
- China Pledges $9 billion in aid
- China commits $9B in 'soft loans' for PH drug rehab, dev't projects
- Duterte to bring home $24 billion from China
- Bank of China commits $3B loan facility for PHL MSMEs, $33B in investment & aid pledged by China
- Japan is highest for PHL
- Philippines Looks to China for Infrastructure Funds Despite Doubts at Home
- PH securing financing from China to speed up infra projects — Pernia
- State-owned Chinese bank to give $3-B credit line to PH firms
- 菲中小微企业可从中国银行获得贷款
- A recipient perspective on TOSSD: the case of the Philippines
- INTERVIEW WITH JOSE SANTIAGO STA. ROMANA
- Ayala Corp 2017, 12 projects pitched for China financing
- Davao firm gets $220-m China loan 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.
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Government of the Philippines
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