MRT-7 group to seek political risk insurance.

(From Philippine Daily Inquirer)

Byline: Clarissa S. Batino

PROPONENTS of the $1.3-billion MRT-7 railway line from Marilao in Bulacan to Quezon Avenue in Edsa are planning to secure political risk insurance from multilateral agencies like the World Bank or the Overseas Private Investment Corp.

A political risk insurance would help Universal LRT Corp., the group that proposed to undertake the MRT-7 project, secure a reasonably priced funding for the project despite the increasing risks in the domestic market.

Universal LRT Corp. chair Roberto de Ocampo said that 75 percent of the project cost would have to be financed with loans and the …