GOOD NEWS: $10B soft loans from China to develop mass transport projects
Metro Manila (CNN Philippines) — Transportation Secretary Arturo Tugade said President Rodrigo Duterte’s four-day trip in Beijing reaped at least $10 billion in soft loans from China.
That’s about P480 billion which will be used to develop mass transport projects such as the railway system and the point-to-point shuttle services. Tugade said they plan to put up a railway system in Subic going to Clark.
They are also looking into establishing the Mindanao Express and a unified station in the existing railways in Metro Manila. Tugade, however, did not mention as to when it will start, but he gave assurance that the projects should be finished within the term of the Duterte administration. CNN Philippines’ Yumi Lugod contributed to this report.