Senators prefer to partner with Japan than China on railway projects

Senators Grace Poe and Risa Hontiveros questioned why the government partnered with China on three railway projects as it has a higher interest rate on loans than Japan. | DFernandezINQ

China’s interest rate on loans is 3 percent while Japan’s is 0.01 percent.

Hontiveros shared the same sentiment: “Nakikiisa po ako du’n sa vision ng gentleman from San Juan na oo nga, ang railway system pwede talagang maging backbone ng ating ekonomiya.” “Second, Japan, through the [Japan International Cooperation Agency] and [Asian Development Bank], has been extending friendlier terms for the country,” he added.

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