The National Public-Private Reconstruction Commission may borrow from the People’s Republic of China’s $15 billion commercial credit. This is to repair infrastructure projects damaged by typhoons Ondoy in Metro Manila and typhoon Pepeng in Northern Luzon.
The People’s Republic of China announced during the 12th ASEAN-China Summit that it will raise the preferential part of the commercial credit by $5 billion to demonstrate its support for ASEAN-China cooperation. (PIA)