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Commuters take the train going to Manila at the Philippine National Railways (PNR) Alabang station in Muntinlupa on July 3, 2023. The station has stopped taking passengers going to Laguna and Sta Rosa as it begins work on a new commuter rail project that will last for five years. Jonathan Cellona, ABS-CBN News

Article (news)

PH RAILWAY

Jekki Pascual

ABS-CBN News

MANILA - Following the exit of China from funding the Philippine National Railway - South Long Haul project, the National Economic and Development Authority (NEDA) revealed several countries have expressed interest in the rail project.NEDA Secretary Arsenio Balisacan said the PNR South Long Haul project remains in the pipeline despite losing China as the initial funding source. The Chinese government was originally supposed to fund the project and two other rail projects via Official Development Assistance (ODA).“It did not go far. After 2022, 2023 wala na siya nung nangyari, not even the completion of the feasibility study,” Balisacan said.Now, Balisacan said many countries have stepped in including development partners and multilateral institutions such as the Asian Development Bank (ADB).“Could be World Bank, could be ADB, but Japan is also interested to looking at it. There are many, even India has expressed interest in it, because India is also known for its long rails. Korea also. Maraming interested,” he revealed.The so-called Bicol Express project is a 639-kilometer rail linking Metro Manila and the Bicol region. Project cost is around P175 billion. NEDA is optimistic of the growth of ODA projects following a 27 percent increase in the financial disbursements of ODA loans last year. The 2023 ODA Portfolio Review Report said the country’s active ODA portfolio of loans and grants reached $37.29 billion.Japan remains as the top provider of ODA in 2023 with $12 billion worth of loans and grants, followed by the ADB $11.43B, World Bank $8.19B, Asian Infrastructure Investment Bank $1.7B, and China $1.16B.Balisacan hailed this increase as a significant progress in the utilization of the ODA funds as he also vowed to ensure that funds are spent efficiently. This includes addressing challenges like procurement delays and right of way issues.<div><iframe width="640" height="360" src="https://www.youtube.com/embed/PgEoFp47VHM?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe> </div>

Following China's exit from the Philippine National Railway - South Long Haul project, NEDA said several other funders have expressed interest in the rail project.

Following China's exit from the Philippine National Railway - South Long Haul project, NEDA said several other funders have expressed interest in the rail project.

After China exit, other countries, multilaterals eye funding Bicol Express

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After China exit, other countries, multilaterals eye funding Bicol Express

Jekki Pascual,

ABS-CBN News

Published August 08, 2024 06:09 PM PHT

Read More:

NEDA

Bicol Express

PNR

south long haul railway

official development assistance

ODA

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