CHN’s $24B promise to DU30 hasn't been fulfilled


SUMMARY: Two (2) years ago, Duterte accepted a promise from China that the Philippines would receive 24 billion dollars ($24 billion) in investment and loan. China has not yet fulfilled this promise. People are now wondering if Duterte has sacrificed so much, including the integrity of the national territory and the sovereignty of the Republic of the Philippines, for far so little.

Below are news reports from ABS-CBN in 2016 and from BLOOMBERG this year, 2018.
PHOTO SOURCE: https://i.ytimg.com/vi/NRZpoWrcI9g/maxresdefault.jpg
TWO YEARS AGO (2016): President Rodrigo Duterte returns home from China on Friday with an estimated $24 billion in investment and loan pledges, after a crucial visit that restored to normal level the relations between Manila and Beijing.

These include at least $5.5-billion for transportation and infrastructure, $1 billion for a hydroelectric power plant, $700 million for a steel plant, and $780 million for a port development project in Davao City that are expected to generate 2.6 million jobs. NEWS SOURCE: Duterte heads home from China with $24 billion deals; Willard Cheng of ABS-CBN News; Posted at Oct 21 2016 04:44 PM; news.abs-cbn.com/business/10/21/16/duterte-heads-home-from-china-with-24-billion-deals
TWO YEARS LATER THIS YEAR (2018): Almost two years after China pledged $24 billion in investment to the Philippines, barely any projects have materialized, prompting deepening concerns that President Rodrigo Duterte has undermined the country’s sovereignty with little to show in return.

Of the 27 deals signed between China and the Philippines during Duterte’s visit to Beijing in October 2016, China originally agreed to provide $9 billion in soft loans, including a $3 billion credit line with the Bank of China, with a further $15 billion worth of direct investments from Chinese firms in railway, port, energy and mining projects. It didn’t specify a timeline. NEWS SOURCE: China Hasn’t Delivered on Its $24 Billion Philippines Promise; By Jason Koutsoukis and Cecilia Yap; July 26, 2018, 5:00 AM GMT+8; https://www.bloomberg.com/news/articles/2018-07-25/china-s-24-billion-promise-to-duterte-still-hasn-t-materialized

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