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MANILA, Philippines — The Department of Transportation (DOTr) and the Light Rail Transit Authority (LRTA) have partnered with the state-run bank Land Bank of the Philippines to settle unpaid obligations with Light Rail Manila Corporation (LRMC), the private operator of the LRT-1.
In a press release on Tuesday, the DOTr said that under the credit line agreement with the state-run bank last May 14, the bank will help in covering the transport agency’s P3.6 billion contractual obligations to the LRMC.
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Transport Secretary Giovanni Lopez said that the agreement aims to provide guaranteed, continued, and improved services for commuters.
