The Philippines is set to ink 11 new loan agreements with Japan under Japanese fiscal year 2026, totaling JPY371.31 billion, roughly USD2.41 billion, strengthening the decades-long development partnership between the two nations.
Finance Secretary Frederick Go described the planned deals as a testament to the enduring strategic alignment between Manila and Tokyo. “This reflects continued alignment between our infrastructure priorities and Japan’s development support,” Go said at the 42nd Annual Joint Meeting of the Economic Cooperation Committees of the Philippines and Japan in Taguig City on Thursday, February 19.
The proposed loans underscore a shared commitment to the Philippine Development Plan 2023–2028 and Japan’s revised Development Cooperation Charter. Key areas of cooperation include infrastructure, connectivity, innovation, sustainability, and inclusive growth.
Among the ongoing projects, the MRT-3 Rehabilitation Project stands out as a vital urban lifeline. “MRT-3 is more than a railway line. It is a daily lifeline for hundreds of thousands of Filipinos. Its rehabilitation represents our shared commitment to improving mobility, productivity, and quality of life in Metro Manila,” Go said, expressing gratitude to the Japanese government and JICA for the support.
The Philippines anticipates signing three major loan agreements before the end of Japan’s fiscal year 2025, covering projects like the Metro Manila Subway and the Central Mindanao Highway. These initiatives exemplify Japan’s “quality infrastructure, durable, efficient, and future-ready,” officials said, signaling Manila’s focus on long-term, sustainable growth.
As bilateral cooperation continues to deepen, the new deals highlight a mutually beneficial roadmap for infrastructure and development, positioning the Philippines to accelerate economic progress while maintaining strong ties with one of its key international partners.
