BCDA denies financing new SEA Games facilities via loan | Inquirer News

BCDA denies financing new SEA Games facilities via loan

By: - Reporter / @KAguilarINQ
/ 02:42 PM November 22, 2019

MANILA, Philippines — The Bases Conversion and Development Authority (BCDA) on Friday denied taking out a loan from a Malaysian firm to finance the construction of facilities for the upcoming Southeast Asian (SEA) Games.

In a statement, the BCDA said it “did not borrow from any Malaysian bank for the construction of sports facilities in New Clark City to be used for the upcoming SEA Games.”

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“The P9.5-billion budget for these facilities was funded through the General Appropriations Act approved and passed by Congress,” it added.

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Senate Minority Leader Franklin Drilon earlier claimed the construction of facilities for the SEA Games had been financed through an P11-billion loan.

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https://newsinfo.inquirer.net/1192657/fwd-drilon-sea-games-facilities-funded-by-loan-worth-p11-b

But Philippine Southeast Asian Games Organizing Committee (Phisgoc) Foundation Inc. chair and House Speaker Alan Cayetano downplayed the loan as a non-issue.

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https://newsinfo.inquirer.net/1192981/p11b-loan-for-sea-games-hosting-not-an-issue-cayetano

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Questions on the funds spent for the SEA Games have recently been raised, including a P50-million worth stadium cauldron in New Clark City.

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Drilon said he would seek a Senate investigation on the controversies after the SEA Games.

The country will host the 30th SEA Games from November 30 to December 11.

GSG
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