The P700 billion worth of investments was a sugar-coated debt, a bitter reality that Filipinos have to pay.
P700 billion investments – no, it is not for free! Filipinos have to pay to China!
President Rodrigo Roa Duterte clarified the real score behind the P14 billion or P700 billion of investment deals sealed during his four-day state visit in China last week.
According to the President, China committed to the Philippines a P14 billion or P700 billion worth of soft loans but he further said that when Beijing lends, it is like saying that it is “for free”, only that it is not said expressly.
The P700 billion worth of investments are to be used in infrastructure projects and other social services.
According to Duterte, the Philippines cannot feel like paying the debt because it has a 25-year term and also, it will greatly benefit, not only the people in the Visayas but also the Moros (people of Mindanao).
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