PH, Japan seal new loan agreements for subway, Mindanao highway projects

MANILA, Philippines — The Philippines and Japan formalized fresh financing agreements for two major infrastructure projects aimed at improving urban mobility in Metro Manila and regional connectivity in Mindanao, reinforcing bilateral cooperation under the government’s infrastructure drive. Foreign Affairs Secretary Ma. Theresa P. Lazaro and Japanese Ambassador Endo Kazuya signed and exchanged diplomatic notes at the Department of Foreign Affairs (DFA) covering the fourth tranche loan for the Metro Manila Subway Project (MMSP) Phase 1 and the engineering services loan for the Central Mindanao High Standard Highway Project. Officials from the Department of Transportation (DOTr), Department of Public Works and Highways (DPWH), Department of Finance (DOF), Department of Economy, Planning, and Development (DEPDev), and the Japan International Cooperation Agency (JICA) attended the ceremony on Friday. Major subway funding secured The largest component of the agreements is a ¥220 billion (approximately ₱84.81 billion or $1.48 billion) loan for the fourth tranche of the Metro Manila Subway Project Phase 1, one of the flagship infrastructure programs of the Marcos administration. The MMSP involves the construction of a 27.5-kilometer underground railway system connecting Valenzuela City to the Ninoy Aquino International Airport Terminal 3 in Bicutan.

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