The Filipino government has said that the country, along with Germany's aid, can retire up to 25 million euros (31.6 million dollars) of debts in exchange for a pledge to undertake health programmes to fight AIDS, malaria and tuberculosis.
The deal was offered by Josef Fullenbach, head of the Southeast Asia unit of the German Ministry for Economic Cooperation and Development in a recent meeting with Economic Planning Secretary Ralph Recto, the Filipino official said in a statement.
AdvertisementRecto has welcomed the proposal and the concerned government agencies have been asked to draft projects that would satisfy the German government's conditions for retiring the debt, it added.
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