Read this in The Manila Times digital edition.
THE Philippines has secured the first tranche of a $4.3-billion (about P229 billion) worth of loan from Asian Development Bank (ADB) to fund the development of the South Commuter Railway Project (SCRP).
The Department of Finance (DoF) reported on Friday that the agreement for the first tranche of the loan, worth $1.75 billion (about P93.57 billion), was signed on Thursday night at Malacañang Palace by Finance Secretary Carlos Dominguez 3rd and ADB President Masatsugu Asakawa. President Rodrigo Duterte was present at the event.
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