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Overview

China's Herbal Medical University/BioMedical Engineering Center provides $28 million USD credit facility for purchase of medicines

Commitments (Constant USD, 2023)$58,904,616
Commitment Year•2004Country of Activity•PhilippinesDirect Recipient Country of Incorporation•PhilippinesSector•HealthFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Sep 2, 2004

Geospatial footprint

Map overview

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The Philippine International Trading Corporation, located in Makati City in Metro Manila, received the donation. For more detailed locational information, see: https://www.openstreetmap.org/node/255054688.

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

Government Agencies

  • Unspecified Chinese Government Institution

Receiving agencies

State-owned companies

  • Philippine International Trading Corporation (PITC)

Loan desecription

China's Herbal Medical University/BioMedical Engineering Center provides $28 million USD credit facility for purchase of medicines

Interest type•Unknown

Narrative

Full Description

Project narrative

On September 2, 2004, Chairman Jiang Zemin of the Central Military Commissions met with President Arroyo of the Philippines in Zhongnanhai. The two countries signed an agreement to provide a $28 million USD credit facility from Herbal Medical University/BioMedical Engineering Center for the Philippine International Trading Corp for the purchase of medicines. The present status of this project is unknown.

Staff comments

The funding agency is coded as Unspecified Chinese Government Institution because there is no detailed information of the Herbal Medical University/BioMedical Engineering Center mentioned in the source.