MANILA, July 16 (Reuters): Philippine President Ferdinand Marcos Jr ordered the transport ministry to renegotiate loan agreements struck by his predecessor with China for railway projects worth US$4.90 billion, an official said on Saturday.
Transportation Undersecretary Cesar Chavez said the official development assistance loan agreements for the three projects were considered "withdrawn" after the Chinese government "failed to act on the funding requests" made by the government of then-President Rodrigo Duterte.
