By Joyce Ann L. Rocamora | Philippine News Agency
Japan and the Philippines signed on Friday fresh loans for the Metro Manila Subway and Cagayan de Oro-Malaybalay Highway projects.
In a ceremony in Pasay City, Foreign Affairs Secretary Ma. Theresa Lazaro and Japanese Ambassador to the Philippines Endo Kazuya exchanged notes on the release of P85.45 billion for the two infrastructure projects.
The fourth tranche loan for Phase 1 of the Metro Manila Subway Project (MMSP 1) amounts to ¥220 billion or approximately P84.81 billion, while the Central Mindanao Highway program amounts to ¥1.672 billion or approximately P644 million.
“Supporting the Philippines’ development is not only vital for the country itself but also for the stability and prosperity of the wider region,” Endo said.
“Japan remains firmly committed to continuing its cooperation. While our security cooperation is growing rapidly, development cooperation remains the cornerstone of Japan-Philippines relationship.”
Lazaro, meanwhile, thanked Japan for its continued support for infrastructure development in the country, saying the two projects—both key programs under the Build Better More of the Marcos administration—signal the government’s push to “make progress felt by our people.”
“Growth must be both efficient and inclusive. We must ease congestion and improve integration where economic activity is concentrated and strengthen connectivity in areas where potential is still being unlocked,” she said.
The MMSP 1 covers the construction of a 27.5-km subway line from Valenzuela City to the Ninoy Aquino International Airport (NAIA) Terminal 3, traversing Bicutan in Taguig CIty.
The phase involves the installation of a 33.1-km electromechanical system; physical integration with the North-South Commuter Railway (NCSR) System, particularly the Food Terminal Inc. (FTI) to Bicutan segment; construction of a depot and 17 stations; and the procurement of 30 train sets.
The second loan, meanwhile, covers the financing of engineering services for the highway section connecting Cagayan de Oro and Malaybalay to reduce travel time from 6.5 hours to 3.5 hours.
The Central Mindanao High Standard Highway project, to be implemented from 2026 to 2034, will construct approximately 64.7 km of road with four lanes, traversing Tagoloan and Cagayan de Oro in Misamis Oriental, as well as Manolo Fortich, Sumilao, Impasugong, and Malaybalay in Bukidnon.
It will also cover the construction of 47 bridges, including nine special long-span bridges, each with main spans exceeding 100 meters. (PNA)
