Philippines withdraw from BRI projects

Laying the foundation for a new subway station in Manila – with a touch of Japan, as it’s financed by Japan. In the center: President Ferdinand Marcos, who is shifting away from China.

President Marcos departs from his predecessor’s policies and cooperates with Japan for new railway lines instead of China. He allows a higher military presence from the USA and skipped the Belt and Road Forum. This amounts to a departure from the Belt and Road Initiative.

In search of an alternative to China’s Belt and Road Initiative, the Philippines are looking towards the West and other regional partners. According to a Reuters report on Monday, Japan, South Korea and India have offered to finance railway projects in the Philippines worth nearly five billion US dollars, as announced by Manila’s Transportation Minister Jaime Bautista. The government could also fund a portion of the railway projects itself or seek investments from the private sector.

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