By TED CORDERO, GMA News
Published March 3, 2021 8:27pm
Photo: AIIB China-backed multilateral lender Asian Infrastructure Investment Bank (AIIB) on Wednesday dismissed criticisms that the East Asian powerhouse is using loans to make countries fall into a debt trap, amid lingering concerns and distrust over Beijing’s diplomatic policy to let poorer and developing countries borrow from Chinese banks. During the virtual forum for Philippines-China Relations of the Association for Philippines-China Understanding (APCU), AIIB president Jin Liqun was asked to comment about the alleged “debt-trap diplomacy” of Beijing. As a result, for instance, Sri Lanka was forced to surrender control of its main southern port in the town of Hambantota to a Chinese firm as part of a plan to convert $6 billion of loans that the country owes China into equity.
Investment pledges up 156% in Jan -Feb
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BoI-approved pledges rise to P122B
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Wang Yi and Former Philippine President Gloria Macapagal Arroyo Jointly Attend the Inauguration of the Manila Forum for China-Philippines Relations and the Launching Ceremony of the Award for Promoting Philippines-China Understanding
2021/01/17
On January 16, 2021 local time, State Councilor and Foreign Minister Wang Yi and former Philippine President Gloria Macapagal Arroyo jointly attended the inauguration of the Manila Forum for China-Philippines Relations and the launching ceremony of the Award for Promoting Philippines-China Understanding via video link.
Wang Yi said that Ms. Arroyo is an old and good friend of the Chinese people. China appreciated her active efforts to promote the friendship between China and the Philippines and to enhance people-to-people exchanges of the two countries for decades. In recent years, under the guidance of the two heads of state, the China-Philippines relations have witnessed a turnaround and realized comprehensive development, which is conduc