Senate Minority Leader Franklin Drilon revealed that the construction of the facilities at the 30th Southeast Asian Games costs billions of pesos in borrowed money.
“We are incurring a loan here. Inutang natin ito from a Malaysian bank payable in 5-years’time at Php2.2 billion per year so a total of Php11 billion,” Drilon said in an interview with ABS-CBN News.
The opposition leader clarified that he is not against the staging of the sporting event but is concerned about the country’s additional loan which has now reached Php624 billion as a consequence.
“I repeat, we have a deficit of P624 billion and P10 billion of that will be because of the facilities that we build,” Drilon added.
He said that the issue of loans and SEA Games budget is now being discussed at the Senate.
“So it’s not as if we bring it out only now,” Drilon added.
“Will you luxuriously spend it or spend it in a manner that will bring the same prestige to our country but at lesser cost to our country,” the senator asked.
Drilon previously questioned the Php50 million cauldron built at the New Clark City which will be used during the SEA Games.
