THE Philippines secured loan from China worth 2.34 billion renminbi (about P17.39 billion) to fund the construction of a two-way, four-lane bridge connecting Davao City with the Island Garden City of Samal in Mindanao, the Department of Finance (DoF) announced on Tuesday.
In a statement, it said Finance Secretary Carlos Dominguez 3rd, representing the Philippine government, and Chinese Ambassador to the Philippines Huang Xilian, representing China, exchanged documents on the framework agreement and loan agreement for the concessional loan on Monday afternoon at the DoF head office in Manila.
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