Wazzup Pilipinas!
Akbayan Senator Risa Hontiveros’ explanation of vote on the Philippines’ ratification of membership to the China-led Asian Infrastructure Investment Bank (AIIB)
"Mr. President, I have refused to sign the resolution ratifying the Philippines’ accession to the Articles of Agreement of the Asian Infrastructure Investment Bank.
This is because, before becoming a member of another international financial institution, we should put our house in order by verifying whether the loan agreements our country has entered into with these institutions are in accordance with the principles on responsible sovereign lending and borrowing published by the United Nations Conference on Trade and Development.
Among others, these principles make lenders responsible for making realistic assessments of the sovereign borrower’s capacity to service a loan based on the best available information and following objective and agreed technical rules on due diligence and national accounts.
Lenders are also made responsible for performing their own ex ante investigation into and, when applicable, post-disbursement monitoring of, the likely effects of the project, including its financial, operational, civil, social, cultural, and environmental implications.





Ross is known as the Pambansang Blogger ng Pilipinas - An Information and Communication Technology (ICT) Professional by profession and a Social Media Evangelist by heart.