Philippines drops China railway deals, seeks other funders

Manila has started discussions with other Asian countries for alternative financing deals. - PHOTO: REUTERS

MANILA (Bloomberg): The Philippines will no longer pursue Chinese loans to fund three railway projects valued at more than $5 billion and has started discussions with other Asian countries for alternative financing deals.

"We saw that China appeared to be no longer interested, so we’ll look for other partners,” Transportation Secretary Jaime Bautista said in an interview at his office in Manila on Friday.