China, Philippines step up infrastructure cooperation

Economic relations between China and the Philippines have been elevated to a higher level as the two nations ramp up cooperation in infrastructure, said the Philippines' Finance Secretary Carlos G. Dominguez on Wednesday.

"There is a list of key projects that we want to develop and China has been a strong support," said Dominguez, referring to China's financial support to the Philippines' "Build, Build, Build" program.

The "Build, Build, Build" program included 75 infrastructure projects, covering areas including railways, urban transport, airports, seaports and bridges.

"Our 'Build, Build, Build' program works in concert with China's much larger and broader Belt and Road Initiative," said Dominguez. "Going forward we hope to see more exchanges and boundless cooperation."

According to Xinhua News Agency, China has extended a $211.21 million loan for the New Centennial Water Source-Kaliwa Dam project and a $62.09 million loan for the Chico River Pump Irrigation project, two major Philippines' infrastructure projects.

The remarks were made this week when the Philippines' delegation visited Beijing to meet with officials from China's Ministry of Commerce to firm up possible new agreements on the two countries' infrastructure cooperation.