MANILA, Philippines--Using the Chico River Pump Irrigation Project loan contract as template for other loan agreements with China will pose problems for the country, Supreme Court Senior Associate Justice Antonio Carpio said Wednesday. "The total loan from China will be from P12 billion to P24 billion. If all loan agreements will follow the Chico River template, that will be a huge problem," he said in a text message. Carpio earlier warned that China could seize Reed Bank if the Philippines defaults on the $62 million loan agreement for the Chico River Pump Irrigation Loan Agreement. Under paragraph 8.1 of the Loan Agreement, the Philippin...
Keep on reading: Chico River project as loan template will pose problem to PH — Carpio
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