By Patricia Lourdes Viray
MANILA, Philippines — The Chinese government has offered a $500-million loan to the Philippines, which can be used to procure defense equipment, Defense Secretary Delfin Lorenzana revealed Sunday.
On the sidelines of the Belt and Road Forum in Beijing, Lorenzana said that the Philippines might procure defense equipment from China.
This announcement comes after representatives of Chinese arms manufacturer Poly Technologies Inc. paid a courtesy call to President Rodrigo Duterte in Beijing.
"We are not saying that we will buy from them or we will not buy from them but if we need anything from the Chinese defense industry, we are going to procure using the loan that they are going to offer to us," Lorenzana said.
Lorenzana noted that the loan from the Chinese government will be on standby as the Philippines will only use it once the military's modernization fund has been used up.
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