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Chinese Loans to Philippine Private Sector Total Nearly $9 Billion Since 2000
AidData data show continued Chinese financing for Filipino businesses through 2023 despite South China Sea tensions. A record US$3.9 billion syndicated loan went to Dito Telecommunity that year.
Jul 21, 3:48 AM·1m read1 source
South China Morning PostAudio version
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Chinese financing to Philippine private businesses remained substantial in recent years despite tensions in the South China Sea, South China Morning Post reported. AidData documented nearly US$9 billion in loans to the Philippine private sector from 2000 to 2020.
The research group also recorded a US$3.9 billion syndicated loan to telecommunications company Dito Telecommunity in 2023, the largest China-backed private-sector loan to the Philippines.
The Dito loan refinanced earlier bridging loans from Chinese financial institutions and supported a multibillion-dollar contract signed in 2019 with ZTE Corporation to manage the company's 4G and 5G networks nationwide. Separately, a US$300 million refinancing loan was extended to energy conglomerate San Miguel Global Power for general operations.
AidData, a research laboratory at William & Mary, found that Chinese financing to the Philippines stayed resilient and shifted toward the private sector.
The findings indicate that geopolitical friction has not been a major factor in funding decisions, the group stated.
