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MOUs for Spanish financing to PH readied

/ 05:14 AM January 17, 2019

The government is finalizing two memoranda of understanding (MOU) with Spain, including one for a proposed 300-million euro grant for agro-food, infrastructure and tourism projects here.

In a statement, the Department of Finance said Spanish Ambassador-Designate Jorge Moragas had told Finance Secretary Carlos G. Dominguez III that Spanish firms were interested in participating in the Duterte administration’s “Build, Build, Build” infrastructure program, specifically railways.

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In turn, Dominguez had told Moragas in a meeting that Spanish firms were “most welcome to take part in the 75 flagship projects under Build, Build, Build.”

The potential infrastructure investments will form part of the proposed Philippine-Spain MOU on economic and financial cooperation, aimed at further [enhancing the bilateral relations between the two countries.

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Another MOU will cover the 300-million euro facility that Spain pitched to the Philippine government last year.

“The proposed MOU on the mechanisms for the 300-million euro financing facility covers possible projects in infrastructure, energy, telecommunication, water treatment, solid waste treatment, agro-food industry, and tourism sectors,” the DOF said. —BEN O. DE VERA

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TAGS: agro-food, Infrastructure, memoranda of understanding (MOU), Spain, Spanish Ambassador-Designate Jorge Moragas, tourism projects
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