Poland offers $140-M loan to equip RP military, police

The Polish government has extended to the Philippines a $140-million credit facility for the purchase of military and police equipment from Poland. “This would be for equipment that can be purchased by the Philippine defense, interior ministry or police; I understand your anti-narcotics agencies might also be interested in it," said Sikorski, following a courtesy call on Monday to his local counterpart, Defense Secretary Avelino Cruz Jr. in Camp Aguinaldo. Sikorski declined to answer questions on the interest rate Poland would charge but said the loan would be payable in eight-and-a-half years, with a three-year grace period. The Polish official said the Philippine government can use the loan to purchase equipment made in Poland. “Our decision to extend a credit facility to the Philippines is our sign of confidence in the Philippine economy because obviously we lend money to people that you believe are to repay you," the Polish defense chief said. Polish and Philippine officials will still negotiate the details of the credit facility. Sikorski said a delegation from the Philippine government is due to visit a military fair in Poland and that he hoped it “would not come back empty-handed." Sikorski and other Polish officials arrived in Manila on Saturday for a three-day visit. The delegation held talks with ranking defense, military and police officials. Polish Prime Minister Marek Belka also visited the Philippines in July last year.-GMANews.TV