The government will continue to uphold strict standards in dealing with foreign lenders for the government’s ‘Build, Build, Build’ infrastructure program, the Department of Finance said Tuesday.
Finance Undersecretary Mark Dennis Joven made the assurance in response to a statement made by Deputy Minority Leader and Bayan Muna Rep. Carlos Isagani Zarate, who claimed the loan agreements for the Kaliwa Dam and Chico River Pump Irrigation Projects contained “onerous” provisions and should be reviewed by Malacañang.
Debunking the opposition solon’s charge, Joven said the basic structure of the water concession agreements, which are essentially public-private partnership contracts, was very different from the official development assistance financing agreements.
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