Aquino: Trip a success, PHL to get over 10% of $1B China fund

President Benigno Aquino III has said his trip to China was a success, saying the outcome has exceeded his expectations. A Malacañang statement on Saturday said Aquino cited as the latest achievement of his trip the setting aside of a chunk of China ASEAN (Association of Southeast Asian Nations) Investment Fund for the Philippines. “Yung ASEAN-China Fund for example, nakagugulat na napakalaki 'nung nilalaan nila, itinatabi para sa Pilipinas. Medyo significant portion of that fund ito," the Palace statement quoted him as saying. While Aquino did not mention figures, the Palace statement indicated the Philippine share will be more than 10 percent of the $1 billion fund. The ASEAN China Investment Fund is a private equity fund that provides capital for small- and medium-sized enterprises within ASEAN and China. Its sponsors and investors include the Swiss government, the Asian Development Bank and United Overseas Bank. Aquino said it is possible the keepers of the fund had found "worthwhile" the programs his administration has been implementing with the help of the local and international community. “Syempre, kung mapakita nating worthwhile 'yung investment nilang ginawa, palagay ko 'yung susunod dadagdagan pa nila 'yung endowment doon. So kung maganda 'yung resulta doon… at parang naka-concentrate sa atin, palagay ko mami-maintain natin 'yung share doon sa fund na 'yon," Aquino said. Aquino is due to return to the country this weekend following a five-day trip to China that included a state visit in Beijing. — LBG, GMA News