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.
Denne historien er fra July 19, 2024-utgaven av The Philippine Star.
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Denne historien er fra July 19, 2024-utgaven av The Philippine Star.
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Chinese automotive brand Omoda arrives in Phl
Omoda vehicles have arrived in the country, paving the way for the brand’s expansion into the Philippine market.
Retail sector seen growing this year
The retail sector’s contribution to the economy is expected to increase to 20 percent by the end of this year as people continue to shop, according to the country’s group of retailers.
'Delayed arrival to soften prices of rice imports'
Prolonging the deadline for the arrival of rice shipments would allow local importers to negotiate better rates for their imports amid threats that their contracts are being canceled due to volatility in prices, resulting in lower landed costs and retail prices.
Gov't borrowings jump 43% to P189 B in July
The government jacked up its borrowings by a little over 40 percent to P189 billion in July, largely coming from the domestic market.
Credit growth in July fastest in 19 months
Lending growth picked up to 10.4 percent in July from the 10.1 percent rise in June, its highest level in 19 months, according to data from the Bangko Sentral ng Pilipinas (BSP).
Metro Pacific's 4th leg still in progress
Metro Pacific Investments Corp. (MPIC) is looking to develop a fourth leg that will provide the conglomerate further growth and stability in the years ahead.
Ovialand sets aside IPO plans to focus on growth
Olivares family-led property developer Ovialand Inc. is setting aside for now its public listing plans as the company sets its sights primarily on growth.
PSEi to stay on course toward 7,000
The stock market will resume its chase for the elusive 7,000 level this week as investors turn their sights on inflation results for August.
August inflation seen to decline below 4%
Economists see slower inflation in August, possibly below the four percent target of the central bank, amid stable food prices.
Another shot at glory for Ernie
Ernie Gawilan hopes to make the most out of his last chance at Paralympic glory when he plunges back into action in the 400-meter freestyle S7 race today at the Paris La Defense Arena in the French capital.
