232 Million US dollar credit JUNKED by world bank

[godsaint]

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Thats the effect of strong peso daw..

[baby_grace]

The media was even incorrect in saying that it is the loan itself that was suspended. Contrary to what the news says, the World Bank suspended talks or negotiations regarding the road projects until the results of the investigation regarding allegations of rigged contracts are released. So, it's not the loan that will be suspended. It is but proper for the World Bank to investigate if they hear allegations. It's just like making a loan in a bank. Before the bank grants you a loan, they will have to conduct background checks on the borrowers to ensure that the loan would be used according to the purposes stated in the application for a loan.

[jingardz]

if this was approved we would have more debts to pay in the future. what are they going to do with the money when they're spending left and right giving doles out and bribe money. they are even willing to pay for overpriced broadband deal and now they want some loan?

[GYM]

mao ba?

[jay_sn0w]

you cant blame WB...there just doing whats logical....

[uzumaki]

haha mao na kay dili ka afford ang atong mga opisyales mo soborno sa taga world bank spoken dollar man gud nya mo gamay nya ilang kick back na vulgar na noon ang mg tinonto hehe

[baron]

I think World Bank is not suspending the contract. It is not suspending any loans whatsoever as earlier reported by media but answered the concern only with respect to the bidding problems that arose in the past. As such, World Bank and the government have instituted reforms to address problems in the future.

With the World Bank’s forecast that the Philippines’ GDP will be higher this year, I don’t think they will be suspending any loans for us.

[slakker]

another slap on the face...