Key points from the press briefing held on March 27, 2019 regarding loan agreements that the country has entered into:

  1. There are no collaterals in any of the loan agreements signed by the Philippine government.
  2. A waiver of immunity is standard across loan agreements the Philippines has signed, whether explicitly stated or implied via an agreement to arbitral proceedings. A waiver of immunity only allows the Philippines' counterparty in an agreement to take the country to arbitration, in the unlikely event that the Philippines defaults on its loans.
  3. Arbitral rulings are still subject to the Philippine Constitution, court system and public policy.
  4. The Philippine government is managing its debt responsibly.

Summary of Infrastructure Flagship Projects (IFPs) funded in part through Official Development Assistance (ODA) with signed agreements


Department of Finance