MANILA, Philippines — Ahead of a key regional summit in Manila, South Korea has offered a $1.7 billion credit facility, and other non-lending programs to the Philippines to help roll out the Duterte administration’s priority programs in the transport and energy sectors. The KEXIM credit line can also be tapped via a tied loan facility with South Korean companies entering into joint ventures with Philippine local firms, the DOF added. Meanwhile, aside from the $1.7 billion credit facility, the South Korean government has also tendered another $7 million in the form of non-lending aid. Other agencies with identified projects lined-up for the KEXIM loan facility are the Department of Information and Communications Technology, Department of Agriculture, Department of Transportation and the National Electrification Administration. Outside the medium-term framework agreement, KEXIM has extended loans for other projects under individual loan deals.

Source: Philippine Star November 08, 2017 07:07 UTC