BCDA denies financing new SEA Games facilities via loan
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.”
“The P9.5-billion budget for these facilities was funded through the General Appropriations Act approved and passed by Congress,” it added.
Senate Minority Leader Franklin Drilon earlier claimed the construction of facilities for the SEA Games had been financed through an P11-billion loan.
But Philippine Southeast Asian Games Organizing Committee (Phisgoc) Foundation Inc. chair and House Speaker Alan Cayetano downplayed the loan as a non-issue.
Questions on the funds spent for the SEA Games have recently been raised, including a P50-million worth stadium cauldron in New Clark City.
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.
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