Japan signs 253B yen additional funds for Metro Manila Subway

Ambassador KOSHIKAWA attended the signing ceremony of the ¥253.307 billion ODA loan agreement for the Metro Manila Subway Project (Phase 1) 2nd tranche between the Japan International Cooperation Agency (JICA) and the Department of Finance. The 1st tranche of the loan, amounting to ¥104.53 billion, was signed in March 2018.

Ambassador Koshikawa highlighted this important milestone in Japan’s commitment to the Philippines’ infrastructure development.

Though originally planned in the 1970s, the Metro Manila Subway remained just a plan for about half a century. With the strong determination of the Duterte administration, this “project of the century” is now steadily progressing.

Soon, Japan’s tunnel boring machines will start excavating under the Metro Manila area in the 2nd quarter of this year.

The Ambassador further assured that “the Metro Manila Subway will serve as one driving force to revitalize the Philippine economy. Filipinos can count on Japan to continuously extend our utmost support until this project is successfully completed.”

As one of the flagship projects under the Build, Build, Build program, the 17-station subway will reduce travel time between Quezon City and Ninoy Aquino International Airport (NAIA) from the current 70 minutes to only 35 minutes, and will address the worsening congestion in Metro Manila caused by poor road network and the rising population’s demand for transportation.

Leave a Reply

Your email address will not be published. Required fields are marked *