China gives PHL P714.57M for campaign on illegal drugs, police cooperation

The People's Republic of China is giving the Philippines a RMB100 million grant to partly cover the Duterte administration's campaign against illegal drugs and law enforcement security cooperation between the two countries.

The amount is equivalent to almost $15 million or P714.57 million.

Finance Secretary Carlos Dominguez III and Chinese Commerce Minister Gao Hucheng signed an agreement on October 20, the Department of Finance said in a statement on Friday.

The pact was signed in the presence of President Rodrigo Duterte and Chinese President Xi Jinping at the Great Hall of the People in Beijing.
 
“In accordance with the needs of the Government of the Republic of the Philippines, the Government of the People’s Republic of China agrees to provide the Government of the Philippines with a grant of RMB Yuan 100,000,000 which shall be disbursed to implement the projects for anti-illegal drugs and law enforcement security cooperation," the Agreement on Economic and Technical Cooperation read.
 
The specific projects covered by the grant will be stipulated in subsequent agreements to be signed by Manila and Beijing.
 
"The pact shall be in force until the day the two governments have fulfilled their obligations under the grant," the DOF said. — Ted Cordero/VDS, GMA News