{"id":178697,"date":"2018-08-27T03:00:45","date_gmt":"2018-08-27T07:00:45","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=178697"},"modified":"2025-03-10T02:58:52","modified_gmt":"2025-03-10T06:58:52","slug":"ph-invites-china-marawi-rehab-pledging-session","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/08\/27\/ph-invites-china-marawi-rehab-pledging-session\/","title":{"rendered":"PH invites China to Marawi rehab pledging session"},"content":{"rendered":"
\"\"<\/a>
\u201cWe acknowledge with deep gratitude that China was among the first countries to respond to our immediate requirements in our recovery and reconstruction efforts in Marawi City,\u201d Dominguez said during the meeting with Chinese officials led by Commerce Minister Zhong Shan held last week. (File photo By Department of Finance, CC BY-SA 4.0)<\/a><\/figcaption><\/figure>\n

BEIJING<\/strong>\u00a0— The Philippines has invited China to take part in the country\u2019s pledging session set in November to drum up international support for the recovery and rehabilitation program for the damaged city of Marawi in Mindanao.<\/p>\n

Finance Secretary Carlos Dominguez III extended the invitation to China during a meeting between a Cabinet-level Philippine delegation and officials of China\u2019s Ministry of Commerce as he expressed the Philippines\u2019 \u201cdeep gratitude\u201d for its swift response in providing assistance for the reconstruction efforts in Marawi.<\/p>\n

\u201cWe acknowledge with deep gratitude that China was among the first countries to respond to our immediate requirements in our recovery and reconstruction efforts in Marawi City,\u201d Dominguez said during the meeting with Chinese officials led by Commerce Minister Zhong Shan held last week.<\/p>\n

Dominguez said the pledging session to be held in the latter part of November would \u201csupport the implementation of the Bangon Marawi Comprehensive Rehabilitation and Recovery Program.<\/p>\n

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\u201d<\/p>\n

\u201cYour government\u2019s active support and participation would be highly appreciated,\u201d he told Minister Zhong during the meeting.<\/p>\n

Dominguez also thanked Chinese Ambassador to the Philippines Zhao Jianhua for \u201cresponding quickly\u201d to Manila\u2019s request in July last year for assistance in Marawi\u2019s recovery and rehabilitation.<\/p>\n

As a result of Ambassador Zhao\u2019s efforts, Dominguez said China was able to deliver in October 2017 several units of heavy equipment for Marawi, which immensely helped in preparing the temporary shelters for the city\u2019s displaced residents.<\/p>\n

Dominguez earlier said the Department of Finance (DOF) was currently planning the timing of the issuance of \u201cpatriotic\u201d retail treasury bonds for the purpose of generating additional funds for Marawi\u2019s reconstruction.<\/p>\n

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He said the DOF was thinking of issuing the bonds in several tranches.<\/p>\n

\u201cWe will issue it definitely in tranches because we should not borrow more than what we need for that year\u2026 We already have PHP10 billion already budgeted so we will go and get more details on how much is actually required and at what dates,\u201d Dominguez has said.<\/p>\n

The tenor of the bonds would depend on market conditions and the issuance might be PHP10 billion a year, with the government probably \u201cending up raising maybe PHP40 billion of the PHP62 billion\u201d total rehabilitation cost, Dominguez said.<\/p>\n

Dominguez floated last year the idea of issuing the bonds to help finance the rehabilitation of Marawi City.<\/p>\n

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<\/p>\n

He earlier ordered the Bureau of the Treasury (BTr) to study the issuance of the debt securities. He said the bonds would appeal to citizens who would like to help rebuild the lives of their fellow Filipinos in the war-torn city.<\/p>\n","protected":false},"excerpt":{"rendered":"

BEIJING\u00a0— The Philippines has invited China to take part in the country\u2019s pledging session set in November to drum up …<\/p>\n","protected":false},"author":33,"featured_media":122538,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,95],"tags":[],"class_list":["post-178697","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-news-ph","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/178697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=178697"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/178697\/revisions"}],"predecessor-version":[{"id":287959,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/178697\/revisions\/287959"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/122538"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=178697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=178697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=178697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}