MINDANAO RAILWAY, CHINA EXCLUDED AS PARTNER
The Philippine government has announced that China has been excluded as an investment partner in the Mindanao Railway Project, and that the investment may instead come from the United States.
U.S. Ambassador to the United States Jose Manuel Romualdez said in a magazine column and other media, “The U.S. government has offered its support for the Mindanao Railway Project. The loan could come from the U.S. International Development Finance Corporation (DFC), which invests in infrastructure and development projects that help developing countries create jobs and promote economic growth. The U.S. is considering investing more than $1 billion. In addition, China was expected to finance the Mindanao rail project, but the Philippines has decided not to seek Chinese Official Development Assistance (ODA) funding for the construction of the railroad,” he said.
In addition, Philippine Transportation Minister Jaime Bautista had stated that since negotiations with China on the Mindanao rail project had not progressed, the Philippines had decided against investment from China and was considering investment from other countries.
ASEAN PORTAL
January 5, 2024
https://portal-worlds.com/news/philippines/32933
