Philippines and Japan Sign and Exchange Notes for the Metro Manila Subway Project Phase 1
Foreign Affairs Secretary Teodoro L. Locsin, Jr., and Japanese Ambassador to the Philippines Koshikawa Kazuhiko during the signing ceremony at the Department of Foreign Affairs today, 27 July 2021. (DFA-OPCD Photo by Philip Fernandez)
PASAY CITY 27 July 2021 — Foreign Affairs Secretary Teodoro L. Locsin, Jr., together with Japanese Ambassador to the Philippines Koshikawa Kazuhiko signed and exchanged documents today formalizing the second tranche of the loan for the Metro Manila Subway Project Phase 1.
The Japanese government is extending a JPY 253-billion (USD 2.3 billion) loan through the Japan International Cooperation Agency for the realization of the first subway in the country. The current loan caps over the JPY1 trillion yen aid package promised by then Prime Minister Abe Shinzo to President Rodrigo Roa Duterte on the former’s visit to the Philippines in January 2017.
The Metro Manila Subway Project is a flagship project of the Build, Build, Build infrastructure program of the administration aiming to revitalize Philippine economy and development by providing a safe, fast and reliable mass transport system. The first phase of the 25.3-kilometer subway connecting North and South of Manila will run from Mindanao Avenue in Valenzuela City through the FTI in Taguig City and end at the Ninoy Aquino International Airport in Paranaque City, effectively decongesting traffic and connecting major business centers in Metro Manila.
“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” said Secretary Locsin.
“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”, the Secretary added.
The signing ceremony was witnessed by representatives from the Department of Finance, Department of Transportation, and the National Economic and Development Authority.
Japan is the Philippines’ top ODA partner, with its long history of support for Philippine development priorities spanning infrastructure, health, human resources, agriculture, education, humanitarian assistance and disaster relief, among many others. This year marks the 65th anniversary of the normalization of relations between the two countries. END
Foreign Affairs Secretary Teodoro L. Locsin, Jr., Japanese Ambassador to the Philippines Koshikawa Kazuhiko, and representatives from the Department of Finance, Department of Transportation, and the National Economic and Development Authority pose for a photo after the signing of the documents formalizing the second tranche of the loan for the Metro Manila Subway Project Phase 1. (DFA-OPCD Photo by Philip Fernandez)