Dominguez: China loan for Kaliwa Dam 30% better than Arroyo debt for Angat

MANILA, Philippines --- The head of the Duterte administration's economic team on Friday said the loan agreement for the New Centennial Water Source-Kaliwa Dam project was a "better" deal compared with the one entered into by the Arroyo administration for a water project in 2010. In a statement, Finance Secretary Carlos G. Dominguez III said claims that the loans signed with China so far had been slapped with high interest rates were "misleading." Besides funding for the Kaliwa Dam, the government also borrowed from China for the Chico River Pump Irrigation Project, the first flagship infrastructure project financed by Beijing under the Duterte administration's ambitious "Build, Bu...

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