PH, Japan ink P115.6-B add’l funding for Metro Manila Subway Photo from PNA
Transportation

PH, Japan ink P115.6-B add’l funding for Metro Manila Subway

Jul 28, 2021, 1:15 AM
Opinyon News Team

Opinyon News Team

News Reporter

The additional funding from Japan will finance the expansion of the original planning line to include two more stations in the project, a spur line to the NAIA and rail tracks that will also be used by the North-South Commuter Train.

The Japanese government has agreed to provide an additional JPY253-billion (P115.6 billion) loan for financing the first phase of the Metro Manila Subway project.

Foreign Affairs Secretary Teodoro Locsin, Jr. and Japanese Ambassador to the Philippines signed the memorandum of agreement (MOA) for the additional funding at the Department of Foreign Affairs headquarters Tuesday (July 27).

The signing ceremony was witnessed by representatives from the Department of Finance, Department of Transportation, and the National Economic and Development Authority.

The 25.3-kilometer Metro Manila Subway is a flagship project under the Duterte administration's “Build, Build, Build” program supported by Tokyo through the Japan International Cooperation Agency.

Its first phase connecting North and South of Manila will span from Mindanao Avenue in Valenzuela City through the FTI in Taguig City and end at the Ninoy Aquino International Airport in Parañaque City, effectively decongesting traffic and connecting major business centers in Metro Manila.

The additional funding, on top of the JPY104.53 billion inked in 2018, will finance the expansion of the original planning line to include two more stations in the project, a spur line to the NAIA and rail tracks that will also be used by the North-South Commuter Train.

“The Metro Manila subway will be a shining monument, better yet a state-of-the-art working system attesting to the deep friendship between the Philippines and Japan,” Locsin said during the signing.
“It is fitting that this signing takes place as we commemorate this year the 65th Anniversary of the Normalization of our Diplomatic Relations and the 10th year of our Bilateral Strategic Partnership," he added.

Tags: #DepartmentOfForeignAffairs, #MetroManilaSubway, #BuildBuildBuild


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