MANILA, Philippines — The “onerous” provision in the Chico River Pump Irrigation Project between the Philippines and China is just “standard,” Malacañang said Monday, as it dismissed criticisms that Manila would not be able to pay the loan to Beijing. “I understand that this is a standard contract whenever our country gets loan from other countries. But you cannot also blame the lender if they will impose certain terms favoring them,” he added. We are known to pay our obligations,” he said. He expressed confidence that the government could pay the P3.2-billion, saying, it’s a “small” amount.

Source: Philippine Daily Inquirer March 25, 2019 05:48 UTC