DOTr lures rail bidders via multilateral backing

SINGAPORE—The Department of Transportation (DOTr) is turning to multilateral-backed financing tools to spruce up its upcoming railway public-private partnership (PPP) projects and attract more private operators and investors. Transportation Undersecretary for Railways Timothy John Batan said these “new-to-the-Philippines” and “new-to-the-world” guarantee mechanisms would serve as a cushion for proponents vying for several rail projects slated