Secretary Manalo, Japanese Chargé d'Affaires Formalize Japanese Loan for the Metro Rail Transit Line 3 Rehabilitation Project (II)

MANILA 29 May 2023 – Secretary for Foreign Affairs Enrique A. Manalo and Japanese Chargé d’Affaires Kenichi Matsuda led the exchange of diplomatic notes ceremony for the Japanese Supplemental Loan for the Metro Rail Transit Line 3 Rehabilitation Project on 26 May 2023 at the Department of Foreign Affairs.

The Supplemental Loan aims to improve the safety and service level of MRT Line 3, thus giving the riding public a more comfortable commute as well as helping alleviate the serious traffic congestion and mitigate the air pollution in Metro Manila.  This effort is in line with the commitment of the Philippine Government to address climate change and its adverse impacts on our communities. 

In his brief remarks, Secretary Manalo recognized the importance of the project, which is a “significant contribution to the development of quality transport infrastructure in the Philippines, and in support of the country’s ‘Build Better More’ program.” He added that rehabilitation of the MRT Line 3 aims to help “everyday Filipino commuters to have a more pleasant riding experience.”

The loan extended by the Japanese Government amounts to JPY 17,399,900,000 or approximately USD129,636,744 million or PhP7,164,600,224.  

Witnessing the signing ceremony were officials from the Department of Finance, the Department of Transportation, and Japan International Cooperation Agency.

Japan is the Philippines’ top bilateral Official Development Assistance (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. END

From left to right: DOTr Assistant Secretary Jorgette Aquino, DOTr Undersecretary Rainier Yebra, DOF Undersecretary Dennis Joven, DFA Secretary Enrique Manalo, CDA of Japan Kenichi Matsuda, JICA Chief Representative Takema Sakamoto, Minister for Economics Daisuke Nihei and First Secretary Hiroyuki Kudo of the Embassy of Japan.