Japan assures PH loans for infra projects to continue

Amid the flood control scandal preoccupying the Philippine government, Japan has assured that it will continue extending low-cost loans for big-ticket bridge, spillway, and maritime projects.

- BY DERCO ROSAL

This reaffirmation comes as investigations into anomalous flood control projects are being conducted alongside the congressional budget hearings.

Finance Secretary Ralph G. Recto led the Philippine delegation on Thursday, Sept. 11, in courting the Japanese government. He anchored his invitation on the two “A-” investment-grade ratings the Philippines has received from leading Japan-based debt watchers.

“This is your vote of confidence in our fiscal management, our investment climate, and our growth trajectory—and we intend to keep earning it,” Recto said.

Recto also told Japanese investors that the Philippine government “has undertaken sweeping reforms to make the country one of the most attractive and hospitable destinations for foreign investments in Asia."