Manila: Philippine President Rodrigo Duterte has raised $18 billion (900 billion pesos, Dh66 billion) overseas development assistance from China and Japan; $15 billion investment pledges from private companies from various countries, Finance Secretary Carlos “Sonny” Dominguez said.

There was a combined $33 billion of ODA (overseas development assistance) to be used for infrastructure, river rehabilitation, irrigation, and airport projects; and investment pledges from several foreign companies since Duterte sat in office in July, said Dominguez, adding, “This is the biggest amount in terms of ODA and proposed direct foreign investment pledges ever raised by any other Philippine president in history.”

“I’m only counting the amounts [of ODA] from China and Japan. Both of them roughly offered $9 billion each,” said Dominguez, adding, “There are some more [proposed] ODAs that we have received from various other countries that we have not counted.”

“I think they see a lot of potential in the Philippine economy — potential for our growth and potential for them to do business here,” Dominguez said.

The Finance secretary said the government is looking to develop infrastructure in areas outside Metro Manila, particularly in Mindanao and in Northern Luzon.

“We’re looking for projects here in Mindanao [southern Philippines],” said Dominguez, adding, “We’ll look up north, beyond Pampanga (in central Luzon),” said Dominguez when asked the areas for the implementation of ODAs.

Infrastructure projects nationwide, preferably outside of Metro Manila, will allow companies to locate and create jobs nationwide — in the provinces, said Dominguez, adding his othereconomic strategy is to develop Philippine export products nationwide.

Earlier, Duterte said he has envisioned a $140 billion infrastructure project in the next six years.

Duterte has visited both China and Japan in October. He has not yet visited the United States.

Japan’s Prime Minister Shinzo Abe was the first foreign president to visit the Philippines this year.

Duterte’s visit to China has been described as a pivot to an Asian country that is the rival of the United States, the Philippines’ long military ally,

Japan’s Prime Minister Shinzo Abe was the first foreign president to visit the Philippines this year.