PH may drop China funding for railroad project by year-end without Beijing s confirmation cnnphilippines.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnnphilippines.com Daily Mail and Mail on Sunday newspapers.
The Marcos administration should no longer pursue the planned loans from China to finance three big railway infrastructures under former president Rodrigo Duterte’s “Build, Build, Build” program, a lawmaker said on Sunday, July 17.
Philippine National Railways (File photo/PNA)
Former House dep
Metro Rail Transit-3 (PNA file photo) MANILA - China on Sunday said it is "negotiating" with the Philippines over the funding of some infrastructure projects after a Philippine transport official bared that Beijing withdrew its funding commitment to three big-ticket railway projects. The Chinese Embassy issued the clarification after Transport Undersecretary for Railways Cesar Chavez revealed that Beijing withdrew its commitment to fund the Philippine National Railways Bicol project, Subic-Clark Railway Project, and the first phase of the Mindanao Railway Project. Chavez earlier said President Ferdinand "Bongbong" Marcos Jr. is looking at renegotiating the loans with Beijing or negotiating with other countries. In a statement, the Chinese Embassy did not directly mention the funding withdrawal, but vowed to "tap its own advantage and support the Philippines to improve its infrastructure." "Our two sides have been negotiating technical issues and made
Two leaders of the House of Representatives on Sunday said the Marcos administration should stop pursuing Chinese financing for three big railway projects, saying Japan and the private sector could fund these projects. House Committee on Ways and Means Chairman Joey Sarte Salceda and Deputy Speaker Rufus Rodriguez, in separate…
PH bags ₱17 39B loan from China for Samal Island-Davao City bridge cnnphilippines.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnnphilippines.com Daily Mail and Mail on Sunday newspapers.