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One of the biggest surprises for me in Terms of News recently was how, despite the constant Word War now between the Civilian and Military Sides of the Administration of President Bong Bong Marcos (PBBM) and China, China still went out and gave more than a billion United States (US) Dollars worth of Loans to the Philippines for the construction of the Bataan-Cavite Interlink Bridge.
The Asian Infrastructure Investment Bank (AIIB) just gave the Philippines Php 64 billion worth of Loans for the Bridge, which is around Usd 1.14 billion assuming an Exchange Rate of Php 56.14 for every Dollar.
The AIIB is not just an ordinary, Private Lender in China like what some in the Philippine Press hilariously wanted to portray, it is headquartered in Beijing and is fully supported by the Chinese Government, so any Loans from it effectively means a Loan from the Chinese Government itself.
That Usd 1.14 billion is not the entire cost of the Bridge which is around Usd 3.91 billion. Usd 2.1 billion of it will come from the Asian Development Bank (ADB) and the remaining Usd 664 million by the Philippine Government.
So the first Question for me is why did China agree to continue giving this Loan to the Philippines, given all the Tensions between them and the PBBM Government? Their Donation and Loan of two Bridges in Davao City which I have made several Videos about I can understand because they had great Relations with former President Rodrigo Duterte who was friendly to them, but this one, I don’t understand it very well.
The second Question I have if the PBBM Government hated China so much, why did they still pursue this Loan from China? Why didn’t they just get the Loan instead from the Countries which they like so much that they consider as “Allies”, like the US for example, or Japan, or the European Countries?
Why didn’t the ADB, which is mainly supported by Japan and the US, just fully fund the Project? Why did they insist on only partially funding it, forcing the Philippines to look for other Lenders which ended up to be China?
I think both China and the PBBM Government knows that restructuring of the Loans for this Bridge would’ve resulted in a lot of uncertainty for it, or at the very least serious Delays in its Construction. China then is giving a big favor to the Philippines by still proceeding with its funding because if not, then the PBBM Government would’ve lost a major Infrastructure Project.
Now I am not against China giving this Loan to the Philippines, in fact I am in favor of having good Relations with them. But I just find it extremely hypocritical for this Government to go out and allow the Demonization of China by the US and their Filipino Admirers, only to go out and beg China for a Loan for this Bridge.
For example, as we speak, the Mayor of Bamban, Tarlac Alice Guo is currently being crucified by the Philippine Senate thru Trial by Publicity for supposedly being a “Chinese Spy”, that the Philippines is going to be invaded by China, etc. But then this Government goes around and begs China for Loans.
This makes me wonder if the Philippines and China made some unofficial Deal for this Loan. If they did, both Sides won’t likely admit it with Tensions between the two Countries being so high right now, especially the Philippines since it had been launching an Anti-China Propaganda Campaign for so long now.
If they did make a Deal, it could’ve come in the Form of not giving even more Military Bases in the Philippines to the US under the Enhanced Defense Cooperation Agreement (EDCA). As of September of last Year of 2023, Philippine and US Military Officials were insisting on even more EDCA Sites to be added.
However, just last Month of April 2024, PBBM himself announced that no additional EDCA Sites will be allowed anymore in the Philippines for now.
Anyway I am glad that the Bataan-Cavite Bridge is pushing thru, this Loan from China is allowing it to start construction soon. And no doubt, once it is finished, it will be one of the PBBM Government’s main and most visible Legacies. I am just not sure if they will credit China for helping them build it.
This Bridge is not an ordinary Bridge, by the Way. At 32 km long, once it is completed it will be one of the longest Sea Bridges in the World, and will cut the Travel Time between the Provinces of Bataan and Cavite from the current five and half hours to only 45 minutes.
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| China surprisingly gives Philippines Usd 1.14 billion Loan for the Bataan-Cavite Bridge |
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