Road construction and expansion projects in northern Luzon and Metro Manila were among the projects discussed by Philippine and Japanese officials for possible financing by Japan through grants and loans.
Both sides, in their sixth meeting on infrastructure and economic cooperation on November 21, also reaffirmed their commitment to ensure the partial operation of the first phase of the Metro Manila Subway Project by May 2022. They also discussed the project’s progress, including the addition in the detailed engineering design of the system of an extension to the Ninoy Aquino International Airport (NAIA).
Finance Secretary Carlos Dominguez III chaired the Philippines’ side while the Japanese delegation was led by Dr. Hiroto Izumi, who is a special advisor to Prime Minister Shinzo Abe.
“In this latest meeting, both sides confirmed the updated candidate list of projects for consideration and action. This list includes new projects proposed for Japanese loan and grant financing,” Dominguez said at the press conference.
“Among the projects that were discussed for financing through Japanese ODA (Official Development Assistance) are road construction and expansion projects in northern Luzon and Metro Manila, flood management and drainage improvements, and various components of the New Clark City project,” he added.
The exchange of notes for the JPY37.905 billion loan (approximately US$336.24 million) for the Pasig-Marikina River Channel Improvement Project Phase IV and another for the JPY167.199 billion (about $1.413 billion) loan representing the first tranche for the North-South Commuter Railway Extension Project were signed between the Department of Foreign Affairs and Embassy of Japan after the meeting.
Another bilateral document signed was the contract of general consulting service for the Metro Manila Subway Project (Phase I) between the Department of Transportation and the Japanese consulting firms.
On the Metro Manila subway project, Dominguez said, “The Japanese side requested the Philippine government expedite measures such as land acquisition and relocation of facilities.”
For the railway projects, Dominguez said the Philippines and Japan “agreed to have continuous consultations at the technical working level to accelerate implementation and address challenges.”
He said the Philippines also thanked Japan for extending its support for the establishment of the Philippine Railway Institute by 2021.
