China invited to join Marawi pledging session
The Philippines has invited China to participate in a pledging session meant to raise international support for the recovery and rehabilitation of Marawi City.
“Finance Secretary Carlos Dominguez 3rd extended the invitation to China during a meeting between a Cabinet-level Philippine delegation and officials of China’s Ministry of Commerce as he expressed the Philippines’ ‘deep gratitude’ for its swift response in providing assistance for the reconstruction efforts in Marawi,” the Finance department said on Monday.
In a statement, the department quoted Dominguez as saying that the pledging session — to be held in the latter part of November — would “support the implementation of the Bangon Marawi Comprehensive Rehabilitation and Recovery Program.”
“Your government’s active support and participation would be highly appreciated,” the Finance chief told China Commerce Minister Zhong Shan.
Dominguez also expressed gratitude to Chinese Ambassador to the Philippines Zhao Jianhua for “responding quickly” to Manila’s request in July last year for assistance.
“As a result of Ambassador Zhao’s efforts, Dominguez said China was able to deliver by October 2017 several units of heavy equipment for Marawi, which immensely helped in preparing the temporary shelters for the city’s displaced residents,” the Finance department said.
The southern city of Marawi was devastated last year after Muslim extremists attempted a takeover. It took the government five months to liberate the city.
An interagency task force has estimated that reconstruction could cost P62 billion and the Finance department is aiming to raise P40 billion via the issuance of retail treasury bonds in several tranches.
“We already have P10 billion already budgeted so we will go and get more details on how much is actually required and at what dates,” Dominguez has said.
To date, P4.59 billion out of the P10 billion allotted for Marawi’s rehabilitation has been released according to the Budget department.
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