Project ID: 34582

China pledges to finance Phase I of Mainline South Railway project in the Philippines

Not recommended for aggregates

This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.

Summary

Funding agency [Type]

Export-Import Bank of China [State-owned Policy Bank]

Recipient

Philippines

Sector

Transport and storage (Code: 210)

Flow type

Loan

Concessional

Vague

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

Vague (Official Finance) (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Pledge (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2002

Description

On November 15, 2002, China National Technical Import and Export Corporation (CNTIC) and China National Machinery Import and Export Corporation (CMC) signed an MoU with the Philippine National Railways to rehabilitate 400km of the Mainline South Railway from Calamba in Laguna Province to Legaspi in Albay Province, and build 108km of railways to extend the line from Legaspi to Matnog in Sorsogon Province. The organizations involved committed to completing the project within 4 months.China was shown to only be involved in Phase I-A of the project, the rehabilitation of the line from Calamba to Lucena in Quezon Province. At the time, the Philippines Department of Finance had applied for a P16.055b loan from China’s Exim Bank. The project was approved by the Philippines National Economic and Development Authority in November 2006, and the contract for construction by CNTIC was signed in December 2006. The project was to be implemented from 2007 to 2008.According to the ODA Watch source, in December 2009, the Mainline South Railway was still in the pipeline for Chinese financing. No loan agreement has been signed for this project since the 2002 MoU.

Number of official sources

3

Number of unofficial sources

4

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Details

Cofinanced

No

Receiving agencies [Type]

Government of the Philippines [Government Agency]

Implementing agencies [Type]

China National Machinery and Equipment Import & Export Corporation [State-owned Company]; China National Technical Import and Export Corporation (CNTIC) [State-owned Company]; Philippine National Railway [Government Agency]

Loan type

No Information

Gurarantee provided

No

Insurance provided

No