Japan Funds More than US$ 400 Million for 2 Philippine Infra Projects
상태바
Japan Funds More than US$ 400 Million for 2 Philippine Infra Projects
  • Arnold Quinoviva Balairos 기자
  • 승인 2018.06.29 18:12
  • 댓글 0
이 기사를 공유합니다

Manila, June 29 (Engineering Daily) -- Japan plans to provide official development assistance (ODA) loans up to 42.48 billion yen (about PHP20.6 billion or more than US$400 million) for two infrastructure projects. This includes upgrading of the Metro Rail Transit (MRT) 3 railway in Manila, as it strongly supports the sustainable economic development of the Philippines.
 

Japanese Foreign Minister Taro Kono expressed the intention to extend ODA loan financing at the Japan-Philippines Foreign Ministers’ Meeting held in June 20 in Tokyo. The approval of two countries has remained to proceed the projects.

The loan provisions of 38.101 billion Japanese yen and 4.376 billion yen have been planned to spend on MRT Line 3 Rehabilitation Project and New Bohol Airport Construction and Sustainable Environment Protection Project to Philippine Foreign Affiars Secretary Alan Peter Cayetano respectively.
 
“The Government of Japan and the Government of the Philippines are to exchange the notes concerning the yen loans in the future,” the Ministry of Foreign Affairs (MOFA) of Japan said in a statement.
 
In response to a request from the Philippine government, Japan will provide the funds necessary to rehabilitate the MRT Line-3, the 17-kilometer train running the stretch of EDSA with a total of 13 stations.
 
Japan will upgrade the line to quality infrastructure to restore safety and comfort of the railway.
 
“It is expected that due to the rehabilitation of the MRT 3 Line, approximately twice as many trains as currently will run appropriately by 2022 (two years after the completion of the project), greatly improving their transport volume, alleviating the serious traffic congestion in Metro Manila, and contributing to the alleviation of air pollution and climate change,” it said.

 
Likewise, Japan offered additional funds to construct a new airport in Bohol province and it anticipates it handle the increasing passenger numbers.

 
“Due to the construction of the new Bohol airport, the province will be able to handle nearly three times as many aircraft arrivals and departures as before. The airport will improve convenience and safety of air transportation and contributes to revitalization and sustainable growth of the region,” added the MOFA of Japan.
 
During the fifth meeting of the Japan-Philippines Joint Committee on Infrastructure Development and Economic Cooperation last June 20 in Tokyo, participants from two countries discussed the methods to resolve the major challenges the Philippines is addressing.
 
The challenges are the rehabilitation of the MRT-3 Line, the Metro Manila subway project, and other infrastructure development projects, as well as assistance to development in Mindanao based on progress of the peace process.
 
Infrastructure development in Metro Manila and the regions is among the major fields of cooperation identified under Japan-Philippines joint statement on bilateral cooperation for the next five years.
 
In the joint statement issued during the visit of President Rodrigo Duterte to Japan last October, the Japanese government would strongly support the sustainable economic development of the Philippines by extending quality infrastructure assistance, utilizing its funding and technology to the maximum extent, for developments under “Build, Build, Build” infrastructure program.
 
Other fields of cooperation between the two countries include energy, creation of employment and improvement of living standards, Mindanao, public safety, information and communications, environment, agriculture, and disaster risk reduction.
 




댓글삭제
삭제한 댓글은 다시 복구할 수 없습니다.
그래도 삭제하시겠습니까?
댓글 0
댓글쓰기
계정을 선택하시면 로그인·계정인증을 통해
댓글을 남기실 수 있습니다.
주요기사
이슈포토