USD 220M Bank of China bridge loan for PHL transport and logistics industry

Mr. Michael Dela Cruz, Managing Director of Bank of China Limited, Manila Branch; offers a toast together with Mr. Deng Jun, Country Head, Bank of China Limited, Manila Branch; and Mr. Dennis Uy (right), Chairman of the Board of Logistics Corp. and president of Udenna Corp. during the signing of the USD220-million bridge loan agreement with Bank of China to propel the country's transportation and logistics industry at the Shangri-la Hotel, Makati City on Thursday (May 18, 2017). The loan is under the USD3-billion financing package committed during the state visit of President Rodrigo R. Duterte to China in October last year to help sustain the growth of the Philippine economy.(PNA photo by Jess M. Escaros Jr.)