The offer, announced by incoming president Rodrigo Duterte, came amid lack of information on the $500 million loan obtained by the administration of former Pres. Arroyo from the Chinese Export-Import Bank (China EximBank) for such railway project aborted by Pres. Aquino for alleged irregularities.
No one from the Department of Finance could immediately be contacted, but in 2012, Finance Sec. Cesar Purisima said the Aquino government had successfully renegotiated with the Chinese government the payment terms of a portion of the $500-million loan.
The Philippine government was due to pay China EximBank in 2012 a lump sum of $184 million, but DOF officials were able to lengthen the payment period to two years or up to 2014.
Data from the DOF showed that instead of a lump sum payment of $184 million, the government would pay China EximBank four equal payments of $46 million over two years starting 2012. The amount represents preparation costs for the project such as right-of-way costs and other land acquisition expenses.
No one from the DOF could be contacted on the terms of payment for the rest of the $500-million loan.
Tanjuatco said the new offer of China to construct a railway system linking Clark and Manila was “a positive sign for the development of Clark International Airport.”
“It’s a welcome development. Any plan to improve the connectivity between Manila and Clark is always a positive sign for the development of Clark airport,” he said, adding that he has also been batting not only for a passenger, but also a cargo railway link from Clark to Subic freeport.
He noted that the North Luzon hosts a population of about 22 million which could be serviced by the Clark airport. “A railway system in the North Luzon will also benefit many Overseas Filipino Workers (OFWs) in the Middle East since most of them reside in the North.
"Clark airport hosts Middle East flights. Qatar Airways’ flies to Doha and Emirates Airlines to Dubai. Both air carriers operate daily flights at Clark,” he noted.
