Philippines says Japan, S Korea, India offer to fund railway projects

Manila: 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.

“We’re exploring these. We cannot give any details yet,” Bautista told a media forum.