BEIJING—The Philippines has submitted to the new aid agency of the People’s Republic of China an indicative list of 12 big-ticket infrastructure projects that will undergo feasibility studies with possible Chinese grant financing, according to Finance Secretary Carlos Dominguez III.
Read MoreIn a report released Wednesday, Malaysia-based RAM Ratings Services Berhad (RAM) announced that it upgraded the Philippines’ global credit rating by one notch to “gBBB2(pi),” or BBB equivalent, a notch above the minimum investment grade. The upgrade was on the back of the country’s sustained growth momentum, a persistent uptrend in foreign direct investment (FDI) inflows, and continuous progress in the government’s economic reform program.
Read MoreBEIJING—Finance Secretary Carlos Dominguez III has welcomed a proposal by the Asian Infrastructure Investment Bank (AIIB) to explore the possibility of local currency financing and a variable spread facility in providing loans to help fund the “Build, Build, Build” program of the Duterte administration.
Read MoreBEIJING—Underscoring the “strong synergy” between the economies of their countries, Philippine and Chinese officials have reaffirmed their commitment to bring bilateral relations between Manila and Beijing to a higher level through enhanced cooperation in the areas of trade, investment and people-to-people exchanges.
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