PALACE: NO SUCH SC BAN ON GOV’T EXERCISE OF OWNERSHIP RIGHTS
Germany: No resolution of NAIA-3 row, no aid to RP
| EXCLUSIVE |
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Neither aid nor investment is likely to flow into the Philippines from Germany, especially after the Aquino administration claimed that it has won the case filed by Piatco (Philippine International Air Terminal Co.) the consoritium which has, as partner, Fraport AG, Malacañang will have nothing to do with compensating the consortium which built the Ninoy Aquino International Airport 3 (NAIA-3) after government had expropriated the facilty.
Germany earmarked at least 46 million Euros or at least P2.8 billion in financial assistance to the Philippines as far back as two years ago but will not release the money unless the seven-year-old impasse over the Fraport issue is resolved by the two countries, a German government official told the Tribune yesterday.
German officials have informed the Philippine government that financial assistance is on hold until the legal case, which is pending before the Pasay Regional Trial Court amid an international court decision reinstating Fraport’s right to file an arbritation-compensation case against the Philippine government, is resolved.
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Source: The Daily Tribune
URL: http://www.tribuneonline.org/headlines/20110105hed1.html
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