The STAR learned from multiple sources that the Philippines may likely end up borrowing from the Asian Development Bank (ADB) and Asian Infrastructure Investment Bank (AIIB) to rebuild the Bicol Express through the Philippine National Railways (PNR) South Long Haul.
If this funding arrangement is taken, sources said the government has two options on how it can proceed with the project.
First, the Philippines can split the project cost between the ADB and AIIB, similar to how it plans to fund another rail project, the Metro Rail Transit Line 4. The government is seeking $1 billion from the ADB and $537.4 million from the AIIB to put up the MRT-4.
Otherwise, the government can obtain all financing from the AIIB, but the loans will be issued in tranches. A source said the AIIB may have to divide its lending in pieces, as it is working with a capital lower than that of the ADB and World Bank.
Esta historia es de la edición July 19, 2024 de The Philippine Star.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición July 19, 2024 de The Philippine Star.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
![Gauff ousted; Zheng wins past 2 a.m.](https://reseuro.magzter.com/100x125/articles/21915/1819126/gTEYr66fi1725303746073/GAUFF-OUSTED-ZHENG-WINS-PAST-2-AM.jpg)
Gauff ousted; Zheng wins past 2 a.m.
Coco Gauff joined Novak Djokovic and Carlos Alcaraz on the US Open scrap-heap Sunday as the defending champion crashed out to Emma Navarro in a blizzard of mistakes as China’s Zheng Qinwen won a record-setting 2:15 a.m. finish.
MOTION DENIED, PLDT FIGHTS ON
” The PLDT High Speed Hitters made this vow after their protest concerning an alleged net touch in the most critical moment of their semifinal loss to Akari at the MOA Arena Thursday was junked by the PVL Sunday night.
![Packworks wins global award for empowering grassroot entrepreneurs](https://reseuro.magzter.com/100x125/articles/21915/1819126/U_3tppiHO1725303488109/PACKWORKS-WINS-GLOBAL-AWARD-FOR-EMPOWERING-GRASSROOT-ENTREPRENEURS.jpg)
Packworks wins global award for empowering grassroot entrepreneurs
Packworks, a Filipino startup that provides a business-to-business (B2B) open platform to sari-sari stores, recently bagged the Bronze Stevie Award as \"Company of the Year - Computer Software - Medium-size\" category at the 21st Annual International Business Awards.
Ayala unit charting course as premier hotel company
Ayala Land Inc. (ALI)’s hospitality arm is charting a course to become a premier hotel company under the leadership of president and CEO George Aquino.
![SEC eyes incentives for firms complying with requirements](https://reseuro.magzter.com/100x125/articles/21915/1819126/yrmswAR7U1725303315456/SEC-EYES-INCENTIVES-FOR-FIRMS-COMPLYING-WITH-REQUIREMENTS.jpg)
SEC eyes incentives for firms complying with requirements
The Securities and Exchange Commission (SEC) is looking at incentives to entice corporations to comply with reportorial requirements.
Manufacturing growth holds steady in August
Manufacturing activity expanded at a steady pace in August despite weak demand for products in international markets, according to S&P Global.
![The legacy of Hans Sy in retail transformation](https://reseuro.magzter.com/100x125/articles/21915/1819126/FkV3Zd3_y1725303221960/THE-LEGACY-OF-HANS-SY-IN-RETAIL-TRANSFORMATION.jpg)
The legacy of Hans Sy in retail transformation
In the fast-paced world of retail, adaptation isn’t just a strategy but a foundation of success. Few exemplify this better than Hans Sy, the visionary force behind SM Prime Holdings. His profound insights into consumer behavior and retail evolution are reshaping the industry’s landscape.
Market gets boost from lower inflation
Positive cues from Wall Street coupled with expectations of lower inflation in August boosted investor sentiment during the first trading day of September.
![DA ready to sell rice at P40 per kilo](https://reseuro.magzter.com/100x125/articles/21915/1819126/VBxsHL_Zy1725303024691/DA-READY-TO-SELL-RICE-AT-P40-PER-KILO.jpg)
DA ready to sell rice at P40 per kilo
The Department of Agriculture (DA) said it may sell rice at P40 per kilogram if prevailing retail market prices soften as soon as more imported rice slapped with lower tariff rate arrives in the country in the coming months.
Raw sugar output seen dropping to 25-year low
The country’s raw sugar production could fall below 1.8 million metric tons MT) in the new crop year, the lowest level in 25 years, after farms reeled from the effects of El Nino, resulting in stunted growth of sugarcanes.