OTHER countries can fund infrastructure projects under China’s Belt and Road Initiative (BRI) if these were stalled because of the issues surrounding the South China Sea and mounting tensions between China and Taiwan, Socioeconomic Planning Arsenio Balisacan said Thursday.

Balisacan issued the statement after former Palace spokesman Harry Roque Jr. warned that another “thorny issue” with China related to the Enhanced Defense Cooperation Agreement (EDCA) bases could affect Beijing’s promised investments and infrastructure projects under the BRI.

In a chance interview, Balisacan said that while the Philippines welcomes China’s funding, the Asian giant “is not the only source of investment and potential funders” for the country.

“Of course, we would want China to be part of all our investment and infrastructure programs, but we open the opportunities to anyone who would like to come in. Of course, what is best for the country is the main consideration,” he told reporters.

“If it turns out that others, Japan, Korea, or whoever can provide better terms and consent for the projects, we should go for those. So we are open insofar as sources of funds for infrastructure programs are concerned,” he added.

Roque, in his recent presentation titled “BRI’s Missed Opportunities during the Duterte Administration” during the 2023 Belt & Road Forum in Hong Kong, bared that only two of the 75 projects in the country have been completed since 2016 despite the robust Philippine-China relations during the administration of former president Rodrigo Duterte.

The 75 mega-infrastructure projects were meant to complement the Build Build Build program of the Duterte administration.

“During the height of our relations with China, we had few infrastructure projects. Now, we have another thorny issue with China related to the EDCA bases,” Roque said.

“While we have secured our defense policy with the Americans, we have fortified our economic link with China through RCEP (Regional Comprehensive Economic Partnership), the world’s largest free trade agreement,” he added.

Balisacan said the country will continue to implement these projects even without funding from China.

“If we can’t get the funding… [for] those China-funded or projects that are promised by China to be funded, then we should open it up to other parties because we can’t wait, those infrastructure programs or projects are needed, very critical for our economic operability,” he said.

The NEDA chief said the Marcos administration is not looking at any particular country that could fund the BRI projects.

“But we are opening up these lists of projects to whoever would come in. We look at the terms. We look at the commitments to complete the projects because particularly, the IFPs, the infrastructure flagship projects, we want to make sure these are all unrolled as the administration completes its term,” he said.

“We want to have most, all of those started so that when the next administration comes, there are projects that are already there,” Balisacan added.

In 2018, the Philippines and China signed a BRI memorandum of understanding that espoused cooperation in infrastructure and connectivity, trade and investment, finance, policy dialogue and socio-cultural exchange.

President Ferdinand Marcos Jr. and his Chinese counterpart Xi Jinping renewed the memorandum in January.

This year, Malacañang said Marcos had secured some $22 billion worth of investment pledges during his state visit to China.