China’s Asian Infrastructure Investment Bank (AIIB) has been asked to help in the funding requirement for the proposed 180-kilometer Pangasinan-Nueva Ecija expressway. which the National Economic and Development Authority (NEDA) submitted to the bank for possible funding.
Secretary Raul Lambino, chairman of the Association for Philippines-China Understanding (APCU), brought this up at the first First Manila Forum for Philippines-China Relations on Wednesday, March 4, which was also keynoted by AIIB President Jin Liqun.
In a closing remark, Lambino revealed that he has just received a confirmation letter from Acting Socio-Economic Planning Secretary and NEDA Acting Director General Karl Kendrick Chua that his proposal is now with the bank.
“I hope President Jin can help us construct the first Pangainan-Nueva Ecija expressway,” Lambino said in a closing remark at the forum.
As chairman of APCU, Lambino said he took the opportunity to ask for AIIB’s help for the proposed Pangasinan-Nueva Ecija expressway construction.
Lambino, also Cagayan Economic Zone Authority (CEZA) Administrator and CEO, said the construction of a Pangasinan-Nueva Ecija Expressway will start from Bolinao, Pangasinan, to San Jose City, Nueva City. This infrastructure project is expected to further perk up commercial and tourism-oriented businesses in Northern Luzon.
In asking for help in the proposed expressway, Lambino cited Chinese Xi Jinping’s vision for the One Belt, One Road Initiative.
China’s One Belt, One Road initiative or Silk Road aims to connect the old trade route from China in Asia to Europe via the construction of major infrastructure among countries involved in the old trade route.
China has been aggressively lending to countries in the Silk Road for their infrastructure projects via railways and highways to connect these countries.
“When we connect to each other, it means we are together in this, and what is good for one is good for the other,” he said.
Lambino, who is also the concurrent presidential adviser for Northern Luzon, said that once countries have already achieved herd immunity following the ongoing COVID-19 vaccination in most countries, the second part is the most critical element of recovery.
“And that is, we need a partner, or partners who are in better shape than we are and who see us as a good neighbor and friend—and with the declared desire to boost mutual understanding, mutual respect and mutual trust,” he added.
With that, he said, China has the vision with its Belt and Road Initiative, and most important of all, it has the money to realize that vision. He tied this up with the vision of President Duterte’s Build, Build, Build infrastructure initiative.
“Our forum today, which is initiated by APCU, is remarkably timely as the first of its kind, but more than that, it is our own initiative in finding a way to boost to our connections with China via investments in infrastructure. We live in a dangerous time of setbacks, but also a time of generous opportunities to build back and rebuild quickly with a partner that not only is a good neighbor but a friend,” Lambino concluded.