AN OFFICIAL of the Mindanao Development Authority (MinDA) said the loan funding for the Mindanao Railway Project is still pending the finalization of terms.
During the Wednesdays at Habi at Kape press conference on April 20, MinDA Deputy Executive Director Assistant Secretary Romeo Montenegro clarified that the final deal for the loan negotiations with China regarding the project’s funding is still pending.
“The latest negotiations have not yet come out with the final deal... so until that is worked out and concluded, then there’s not much happening yet in terms of the project,” Montenegro said.
Phase 1 of the Mindanao Railway Tagum-Davao-Digos segment is undertaken by the Department of Transportation but will be funded under a China loan agreement.
Montenegro said the same goes for the Department of Public Works and Highways’ Davao-Samal Interconnecting Bridge, which is also being funded by a China loan agreement. Loan negotiations for both projects are being handled by the Department of Finance.
Last February, Montenegro said there were unspecified delays surrounding the progress of the loan agreement for the Davao-Samal Bridge but Montenegro and MinDA Secretary Mabel Sunga-Acosta are hopeful the funding will be finalized before the end of the Duterte administration.
“It is still in the works and hopefully, this (project) will be taken up by the next administration,” Acosta said.