By: Elena Grace Flores
UNTV News and Rescue
[VIDEO]: Railway Projects will be Open to the Public Sector
China Loans May Not be Needed
The Duterte administration’s deals on the following loans from China are currently off the table:
Calamba to Bicol – 142 Billion Pesos
Clark to Subic – 51 Billion Pesos
Tagum to Davao to Digos -83 Billion Pesos
Considered as Withdrawn
Former Finance Secretary Carlos Dominguez wrote to China after their inactivity that if they do not honor their pledge to provide loans for the 3 railway projects until June 2022, the country’s application for them is considered withdrawn.
May be Open to the Public Sector
President Bongbong Marcos earlier instructed his economic team to bring the negotiation back with China to the table. However, another option is also under study. This is to open the said loans to the private sector. Making these projects a public-private joint venture.
