Philippines, Japan sign P92-billion infrastructure loan deals

📆 3/27/2024 2:42 PM
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Japan is funding the construction of the Metro Manila Subway and a road system that will connect Nueva Ecija and Nueva Vizcaya to Cagayan Valley

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The Philippine government, through the Department of Finance , and the Japan International Cooperation Agency signed the loan agreement for the third tranche of financing for theThe total cost for the country’s first underground mass transport system is P488.48 billion. JICA has supported the first two loan tranches, totaling P139 billion.

The subway is targeted to be operational by 2029. It is expected to reduce travel time from Valenzuela City to the Ninoy Aquino International Airport from 1 hour and 30 minutes to just 35 minutes.WATCH: What’s the progress on the Metro Manila Subway?

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Philippines, Japan sign ¥150-B third tranche loan for Metro Manila subwayThe governments of the Philippines and Japan on Tuesday signed the loan agreement for the third tranche of official development assistance (ODA) financing the country's first underground railway system, the Metro Manila Subway project.
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