MANILA – The Philippines is working to move China-funded infrastructure projects faster, Transportation Secretary Arthur Tugade said Friday.
The Department of Transportation is facilitating the construction of at least 3 China-funded railway projects -- the PNR South Railway project, the Clark-Subic Railway project, and the Mindanao Railway project.
"All progress will have to be improved, remember we are working with set timelines. We are set to finish all projects that can be completed and finished within the term of the president," Tugade told a business forum on China's Belt and Road initiative.
"Are we satisfied with the progress? It can be better because if they would like to finish for instance in the first quarter of 2022, I would like to push it to 2021. Are we happy? Things can stand better," he said.
By 2022, the total project debt to China will be around 4.5 percent of the country’s total debt, while Japan's share will be “double” that amount, Finance Assistant Secretary Antonio Lambino earlier said.