$19 Billion Investments & Loans Secured by Pres. Duterte During Japan Visit


President Rodrigo Duterte's state visit to Japan yields positive results for the Filipino people as the Philippines received offers of investments and loans totaling $19 billion. According to Trade Secretary Ramon Lopez, the bulk of the amount was offered by Marubeni Corp., one of Japan's major business conglomerates.


Out of the $19 billion investments and loans to the Philippines, $17.2 billion was offered by Marubeni Corp., one of Japan's major integrated trading and investment business conglomerates. The company dominates the cereal and paper pulp trading as well as a strong electrical and industrial plant business in Japan.

Sec. Lopez also provided a document showing that Marubeni will be "involved in $3.2 billion worth of projects (short term) and $14 billion (medium to long term) worth of projects in mass transport systems, roads and highways, water and power."

The Japanese government also offered a financial package to the Philippines which includes $157-million official development loan to provide the Philippine Coast Guard (PCG) with two new large patrol vessels to improve the country's maritime law enforcement.

Malacanang Palace noted that the two Japanese patrol ships would be in addition to the 10 Coast Guard vessels under official development assistance loan to the Philippines. Japan will also provide the Philippines with TC-90 training aircraft, high speed boats and other equipment to enhance the country's anti-terrorism capabilities.

Japan also provide another loan amounting to $47 million, which will be used to construct plants, acquire equipment, and provide operating capital to agricultural cooperatives and private businesses to help generate more jobs in the Autonomous Region in Muslim Mindanao.


$19 Billion Investments & Loans Secured by Pres. Duterte During Japan Visit $19 Billion Investments & Loans Secured by Pres. Duterte During Japan Visit Reviewed by Phil Newsome on 10/29/2016 Rating: 5

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