The Philippine government and Japan on Friday signed agreements for major infrastructure projects aimed at boosting the country’s economy and improving transportation.
Japanese Ambassador Endo Kazuya and Foreign Affairs Secretary Maria Theresa P. Lazaro exchanged official notes covering two loans: about 220 billion yen for the Metro Manila Subway Project (Phase 1, IV) and about 1.672 billion yen for engineering services of a high-standard highway in Mindanao.
The subway project is designed to ease heavy traffic in Metro Manila, improve daily commuting, and reduce pollution, which could enhance productivity and lower economic losses caused by congestion.
Meanwhile, the highway project will support the development of a key road linking Cagayan de Oro and Davao. Improved connectivity between these major cities is expected to boost trade, attract investments, and support economic growth and social development in Mindanao.
The exchange of notes formalizes Japan’s continued financial support for Philippine infrastructure, seen as a key driver of long-term economic expansion.
