Umutang para magpasikat! Drilon claims Cayetano’s team borrowed P11B for SEA Games
The government will be paying a Malaysian bank a total of P11 billion for the next five years over its hosting of the 30th Southeast Asian (SEA) Games, Senate Minority Leader Franklin Drilon has claimed.
In an interview over ANC’s “Headstart” on Nov. 21, Drilon claimed SEA Games organizers, including House Speaker Alan Peter Cayetano, borrowed money to finance the construction of new facilities for the international athletic meet.
“We are incurring a loan here. Inutang natin ito from a Malaysian firm payable in 5 years’ time at P2.2 billion per year, so a total of P11 billion,” he said.
Drilon said that while he is not against the hosting of the SEA Games, borrowing money raises the question of propriety considering the government has a P624-billion deficit.
The senator earlier questioned the P50 million spent on the cauldron that will be lit on the opening of the SEA Games.
Cayetano has confirmed that P1.5 billion of the funds for the SEA Games will not undergo bidding, supposedly due to time constraints.