China Development Bank and the Philippine Bases Conversion and Development Authority signed memorandum of understanding for infrastructure projects (linked to Record ID#s #64750, #63610, and #63593)

China Development Bank and the Philippine Bases Conversion and Development Authority signed memorandum of understanding for infrastructure projects On January 7, 2018, the Memorandum of Understanding (MOU) was signed between the Bases Conversion and Development Authority (BCDA) and China Development Bank (CDB) for a framework agreement to establish financing cooperation.

The agreement would be allocated for "[speeding] up the implementation of high impact infrastructure projects worth US$4.5B under the Build Build Build program,". The signatories of the MOU are Chairman Gregorio Garcia III of BCDA and Chairman Hu Huaibang of CDB.

Under the MOU, CDB and BCDA are expected to collaborate in the next 5-years, to determine the most cost-effective and efficient financing option for BCDA's projects in Clark and Metro Manila.

This project is linked to three projects specifically mentioned to possibly receive funding through the financing agreement; Record ID#64750, the New Clark City project; Record ID#63593, the BGC-NAIA-Makati Bus Rapid Transit project; and Record ID#63610, the Subic Clark Railway project.