Jaime Bautista said the South Long Haul Project, Mindanao Railway Project, and Subic-Clark Railway will likely be financed through official development assistance (ODA) or under a PPP model.
“These three railway projects can either be financed by ODA, public-private partnership, or the government,” he said. “We’re looking at those three sources to finance these projects.”
He added that the country is looking to the Japan International Cooperation Agency (JICA), World Bank, and the Asian Development Bank (ADB) to support the financing of the projects.
Meanwhile, the Department of Transportation has this week signed contracts with the PPP Centre and the IFC for advisory services for the development of several transportation projects in the aviation and railway sectors.
Among the projects expected to benefit from the agreements is the Light Rail Transit Line 2, the department said.