LIST: 14 deals signed during Chinese Premier Li’s Manila visit

Pia Ranada
LIST: 14 deals signed during Chinese Premier Li’s Manila visit
Li and Duterte also witness the launching of two bridges and a Mindanao drug rehabilitation center covered by a previously signed deal

MANILA, Philippines – During Chinese Premier Li Keqiang’s official visit to Manila, he and Philippine President Rodrigo Duterte witnessed the signing of 14 deals, including agreements and memoranda of understanding.

The signing took place on Wednesday, November 15, in Malacañang after an expanded bilateral meeting. 

The deals covered a variety of issues: Marawi rehabilitation, treatment of drug addicts, defense cooperation, climate change, and infrastructure. (READ: China to donate P1.1 billion for Marawi rehabilitation)

One of the agreements, the 2017 Renminbi Bond Issuance Underwriting Agreement, involves the issuance of bonds amounting to around $200 million, said Finance Secretary Carlos Dominguez III in a short interview with reporters.

The underwriter will be the Bank of China, he added.

Below are the 14 deals:

  • Agreement on Economic and Technical Cooperation between the Government of the Republic of the Philippines and the People’s Republic of China
  • Memorandum of Understanding on Jointly Promoting the Second Basket of Key Infrastructure Projects Cooperation between the Department of Finance of the Republic of the Philippines and the Ministry of Commerce of the Government of the People’s Republic of China
  • Exchange of Letters on Project of Dangerous Drugs Abuse Treatment and Rehabilitation Centers
  • Exchange of Letters on Project of Two Bridges Across Pasig River
  • Memorandum of Understanding for Cooperation on Industrial Parks Development between the Department of Trade and Industry of the Republic of the Philippines and the Ministry of Commerce of the People’s Republic of China
  • Memorandum of Understanding on Jointly Promoting the Philippine National Railways South Long Hall Project Cooperation between the Department of Transportation of the Republic of the Philippines and the Ministry of Commerce of the People’s Republic of China
  • Implementation Framework for the Memorandum of Understanding and Development of Project List for Cooperation in Production Capacity and Investment between the National Economic and Development Authority of the Republic of the Philippines and the National Development and Reform Commission of the People’s Republic of China
  • Memorandum of Understanding between the Department of Environment and Natural Resources of the Republic of the Philippines and the National Development and Reform Commission of the People’s Republic of China Concerning the Provision of Goods for Addressing Climate Change
  • Memorandum of Understanding on Defense Industry Cooperation between the Department of National Defense of the Republic of the Philippines and the State Administration of Science Technology Industry of the National Defense of the People’s Republic of China 
  • Memorandum of Understanding between the Intellectual Property Office of the Philippines and the State Intellectual Property of the People’s Republic of China on Cooperation in the Field of Intellectual Property
  • Memorandum of Understanding between the National Youth Commission and the All-China Youth Federation on Strengthening Youth Cooperation
  • The Financing Cooperation Agreement on Chico River Pump Irrigation Project and New Centennial Water Source-Kaliwa Dam Project between the Government of the Republic of the Philippines represented by the Department of Finance and the Export-Import Bank of China
  • The Republic of the Philippines 2017 Renminbi Bond Issuance Underwriting Agreement 
  • Memorandum of Understanding between the Bases Conversion and Development Authority and China Development Bank

Pasig bridges, rehab center

Duterte and Li also launched on Wednesday the two Pasig River bridges and a drug rehabilitation center to be funded by China.

Dominguez said the event was tantamount to “groundbreaking” for the two projects.

The Binondo-Intramuros and Estrella-Pantaleon bridges will be financed through a P3.6-billion grant from China signed in the presence of Duterte and Chinese President Xi Jinping last May.

The bridges, to be constructed near the Guadalupe Bridge, are intended to ease traffic congestion along EDSA, a major thoroughfare that crosses the Pasig River.

The drug rehabilitation center to be built in Mindanao is also part of the agreement signed in May that finances the bridges.

It was first announced by Chinese Ambassador Zhao Jianhua in March. – Rappler.com

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Pia Ranada

Pia Ranada is a senior reporter for Rappler covering Philippine politics and environmental issues. For tips and story suggestions, email her at pia.ranada@rappler.com.