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Oct 13, 2016 @ 7:44

DA to hold exploratory talks in China for funding

MANILA, Philippines – The Philippines is eyeing exploratory talks with Chinese banks for possible financial assistance to boost the local agriculture industry.

Agriculture Secretary Emmanuel Piñol said he would be accompanying President Duterte in his state visit to China next week to look into possible investment and financial aid for the country’s rural developments projects and other agricultural concerns.

“I asked permission from the President that on the sidelines of the state visit, I will make an arrangement for exploratory talks with the banks of China and other institutions,” Piñol told reporters in a chance interview.

“I asked him (Duterte) if it’s okay to have a long term loan from Chinese banks for post-harvest, fisheries and grains investments. Although, I still could not come up with the exact figure,” he added.

The President, together with his delegation, is expected to visit Beijing on Oct. 19 to 20, just a few months after the Permanent Court of Arbitration in The Hague ruled in favour of the Philippines against China on maritime entitlements in the West Philippine Sea.

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