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Chinese gov’t willing to lend 500-M US dollar loan fund for Puerto’s infrastructure projects PDF Print E-mail

PUERTO PRINCESA CITY, June 25 (PNA) -- Mayor Edward Hagedorn disclosed that the government of the People’s Republic of China is willing lend a financial loan package amounting to 500 million US dollars to finance various infrastructure projects in this city.

Hagedorn said the willingness of the Chinese government to fund projects through a loan agreement was disclosed by Chinese Ambassador to the Philippines Song Tao during his recent visit here.

”If this loan agreement is realized, definitely, we will not allow investment that will destroy our marine resources through illegal fishing, mining and logging,” said Hagedorn, an awardee of United Nations Environment Program: Global 500.

He is the first Filipino political leader to make environmental protection the centerpiece of his administration.

While here, Tao said the sisterhood between Puerto Princesa and Wuxi has opened a new page in the history of friendly exchange between Palawenos and the Chinese people.

He said "it would not only consolidate the historical links between us but also usher in a new age of friendly cooperation in a wide range of areas including trade, tourism, culture and education, among others.

He stressed that much like Puerto Princesa is the pearl of Palawan and the Philippines, Wu Xi is one of the brightest pearls on the coast of Taihu Lake.

Wu Xi is the cradle of China's national industry and commerce, he noted.

”We have every reason to believe that sisterhood between Wu Xi and Puerto Princesa would not only add momentum to the development of the two cities but also make important contribution to bilateral relations between China and the Philippines,” Tao said.

Over the centuries, the Chinese official related that Palawan and Puerto Princesa played a very important role in friendly exchange between China and the Philippines.

In ancient times, Chinese traders and migrants arrived in the Philippines by traversing land bridges between Borneo and Palawan. Pottery, china and other artifacts recovered from caves and the waters off Palawan attest to the once flourishing trade between Chinese and Malays centuries ago.

Intermarriage among Chinese migrants, Malay, Arab and Hindu people contributed to the distinct breed of Palawenos. Proofs of friendship between Palawan and China are innumerable.

”We are not only good neighbors and close friends, but also trusted partners and dear brothers,” Tao said. (PNA)

Puerto Princesa, Wuxi, China strengthen bilateral ties

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