BEIJING—The Philippines and China signed here on Thursday (Oct. 20) two key agreements that would allow the Duterte administration to tap Beijing’s financing facilities and technical expertise to help fund its infrastructure and rural development projects.

In simple rites held at the Great Hall of the People here, Philippine Finance Secretary Carlos Dominguez III and Mr. Sun Ping, Vice President of the Export-Import Bank of China (China EXIM) signed the Memorandum of Understanding (MOU) on Financing Cooperation, which signifies the intent of the Bank to provide funding for Philippine projects in infrastructure, agriculture and energy, among other priority sectors, through concessional loans and other preferential financing facilities.

Dominguez and Sun signed the agreement in the presence of President Duterte and Chinese President Xi Jinping at the Great Hall of the People.

The specific projects covered by the MOU that would be open for financing through China EXIM, which is solely owned by the Chinese government, would still be agreed upon by the two countries and would undergo the usual approval processes.

The MOU states that projects in infrastructure, energy, transportation, engineering and manufacturing would be considered by the two governments as priorities.

A separate MOU signed by Dominguez and Chinese Commerce Minister Gao Hucheng provides Manila with financing support from Beijing in conducting feasibility studies for the Philippine government’s major projects in infrastructure, agriculture and rural development, among other priority areas.

Under the agreement, China would provide support for the feasibility studies “through the dispatch of technical experts and consultants” for period of three years.

This agreement was signed in the presence of Chinese President Xi Jinping and Philippine President Rodrigo Duterte, who is on a four-day state visit to China.

The two agreements were among the 13 agreements signed by the Philippines and China during President’s Duterte’s state visit.