NATIONAL Transmission Corp. (TransCo) has approached multilateral lending institutions Asian Infrastructure Investment Bank (AIIB) and World Bank for a loan of between P15 billion and P20 billion to pay renewable energy developers that have yet to receive their share of the feed-in-tariff (FiT) allowance collected from electricity consumers.
FINANCE Secretary Carlos G. Dominguez III said that he will raise the matter of greater participation by the China-led Asian Infrastructure Investment Bank (AIIB) during its annual meeting in South Korea this week, noting that the bank has chosen to only engage in partial financing for its projects.
THE government and the Asian Infrastructure Investment Bank (AIIB) are eager to get started on identifying and funding infrastructure projects, with officials touting the Beijing-backed lender’s speed in evaluating loan proposals and the low cost of its financing.
A Bus Rapid Transit (BRT) and a Metro Manila flood control project will be the first projects to be presented to the Asian Infrastructure Investment Bank (AIIB) once the Philippines confirms its membership in the Beijing-backed lender.
THE PHILIPPINES needs to be “very very cautious” about becoming a member of China’s Asia Infrastructure Investment Bank (AIIB), President Benigno S. C. Aquino III said at a conference in Japan on Wednesday, with the government obliged to consider Beijing’s behavior in the Scarborough Shoal crisis of 2012, during which the Export-Import Bank of China (China EximBank) called in a loan that was to fund a rail line to Clark International Airport.