MANILA, Nov 6 (Reuters) - Japan, South Korea and India have offered to finance three Philippine railway projects worth nearly $5 billion, the country's transport chief said on Monday, after Manila dropped China as a funding source last year.
Transportation Secretary Jaime Bautista said the Philippine government could tap the three countries for possible official development assistance (ODA).
He said the government may also fund a portion of the rail projects or seek private sector investments.
The rail projects are the Subic-Clark Railway Project, the Philippine National Railways South Long-Haul Project and the Davao-Digos segment of the Mindanao Railway Project, collectively worth $4.95 billion.
Construction of the Philippines' first subway train, funded by loans from Japan, is underway in the capital region.
Persons:
Jaime Bautista, Bautista, Ferdinand Marcos Jr, Rodrigo Duterte, Duterte, Marcos, Mikhail Flores, Karen Lema, Raju Gopalakrishnan
Organizations:
Transportation, Clark Railway, Philippine National Railways, Mindanao Railway Project, Thomson
Locations:
MANILA, Japan, South Korea, India, Philippine, Manila, China, Subic, Davao, Mindanao, Beijing, Philippines, Asia