THE PHILIPPINES may ask $5 billion in soft financing from the...

THE PHILIPPINES may ask $5 billion in soft financing from the Chinese government to bankroll various infrastructure and mining projects in the country, said Francis Chua, president of the Federation of Filipino-Chinese Chambers of Commerce and Industry.

retary Neri proposed to a visiting Chinese official ... that a $5-billion loan package be arranged to help finance local infrastructure projects," he said.

China's Export-Import Bank has offered to help finance the $503-million Manila-Clark Rapid Railway System, or Northrail, and the $1-billion rehabilitation of the Philippine National Railways (PNR).

"There are also projects in the mining sector," added Neri, on top of other infrastructure projects that have to be financed such as highways, airports and seaports.

Several Chinese companies have expressed interest to take part in local mining projects.

The financing for the Northrail and the PNR will be in the form of official development assistance.

The group is embarking on an investment marketing program that will involve identifying opportunities all over the country, and come up with a more focused investment priority list for each province, he added.

"The plan is to identify and make a list of all investment possibilities within six months," Chua said. "We are mobilizing 170 of our local chambers to find good investment opportunities in the provinces."

the Chinese ,They sure know how to spend and when to spend.
LAF a damn good story ,please do your own rsearch.