The Senate Committee on Local and Foreign Debts has recommended the approval of a $16.2 billion loan without seeing the terms and conditions of the loan from the funding agencies.
This was contained in the report submitted by the Chairman of the Committee, Senator Clifford Ordia, on Wednesday.
According to Ordia, the terms and conditions of the loans from funding agencies will only be forwarded to the National Assembly prior to the execution of same for concurrence and proper documentation.
All the members of the Committee appended their signatures to the report submitted for consideration.
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