News Snapshot:
MANILA, Philippines—The head of the Beijing-based multilateral lender Asian Infrastructure Investment Bank (AIIB) on Wednesday (March 3) said there would be no “debt trap” as long as borrowings—like the Philippines’ loans for vaccine procurement and rollout—were well-spent amid an avalanche of debts in the thick of the fight against the health and socioeconomic crisis inflicted by the COVID-19 pandemic. Speaking before members of the Association for Philippines-China Understanding (APCU) at its first online Manila Forum for Philippines-China Relations, AIIB president Jin Liqun said the loan to be released by AIIB and co-financed by the Manila-based Asian Development Bank (ADB) will...
