Philippines drops China railway deals, seeks other funders

News Snapshot:

MANILA – The Philippines will no longer pursue Chinese loans to fund three railway projects valued at more than US$5 billion (S$6.85 billion) and has started discussions with other Asian countries for alternative financing deals. “We saw that China appeared to be no longer interested, so we’ll look for other partners,” Transportation Secretary Jaime Bautista said in an interview at his office in Manila on Friday. China agreed to fund three railway projects located outside the Philippine capital during the administration of then President Rodrigo Duterte who sought closer ties with Beijing. The government of his successor Ferdinand Marcos Jr...