THE Philippines has secured 500 million renminbi or about P3.72 billion grant from China that will be used to implement infrastructure projects and other development initiatives of the government.

In a statement over the weekend, the Department of Finance (DoF) said Undersecretary Mark Dennis Joven signed the agreement on behalf of the Philippines, while Vice Chairman Deng Boqing of the China International Development Cooperation Agency signed on behalf of the Chinese government.

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