Metro Manila, Philippines – The government has secured more than ₱80 billion in loans from the Japan International Cooperation Agency (JICA) to fund key transport projects in Metro Manila and Mindanao.
Finance Secretary Frederick Go signed the agreements on Friday, March 27, with JICA Chief Representative Baba Takashi, the Finance Department said in a statement.
The financing includes a loan of ¥220 billion, or around ₱83 billion, for the fourth tranche of the Metro Manila Subway Project Phase 1 (IV), covering civil works, systems, trains, and consultancy services.
The subway is expected to ease heavy traffic and improve travel time across Metro Manila, including access to Ninoy Aquino International Airport.
Another ¥1.672 billion, or over ₱632 million, will fund engineering services for the Central Mindanao High Standard Highway connecting Cagayan de Oro City and Malaybalay, Bukidnon.
The highway project aims to provide a safer and faster route, cutting travel time and improving the movement of goods and people in the region.
JICA said the financing reflects continued cooperation with the Philippines to develop modern and efficient transport infrastructure.
