Duterte Admin Submits P215 Billion Infrastructure Project Proposals for Japanese Financing

The Philippine government under the administration of Pres. Rody Duterte submitted a total of nine priority infrastructure projects worth a total of P315 billion for possible Japanese government financing.

According to Finance Secretary Carlos Dominguez III, in a press briefing after the 2nd Philippine-Japan high level joint committee and infrastructure development and economic cooperation meeting held at the Bureau of the Treasury (BTr) office in Manila, said the meeting focused on informing their Japanese counterparts on how the current administration would firm up the implementation of the projects.

The DOF also revealed that plans and actions on how the highly anticipated major infrastructure projects would be undertaken had been discussed in a bid to "ensure the swift implementation of big-ticket projects."

Sec. Dominguez and Socioeconomic Planning Secretary Ernesto Pernia led the Philippine delegation while their Japanese counterparts were led by Dr. Hiroto Izumi, special advisor to Prime Minister Shinzo Abe.

Sec. Pernia stated that during the said briefing between the Philippines and the Japanese government, the first set of projects submitted for possible financing include the first phase of the Mega Manila Subway Project, worth P214 billion; and the Malolos-Clark Railway Project worth P95.5 billion.

Other projects submitted for financing include the Cavite industrial area flood management project, the PHP4-billion Dalton Pass east alignment alternative road project, the road network development project in conflict-affected areas in Mindanao, the Circumferential Road 3 missing link project.

Also, the Pasig River-Marikina Channel improvement project Phase IV, the USD46.17 million or Php2 billion worth Harnessing Agribusiness Opportunities through Robust and Vibrant Entrepreneurship Supportive of Peaceful Transformation (Harvest) proposed by the Land Bank of the Philippines(Landbank), and the second phase of the Malitubog-Maridagao Irrigation Project.

The DOF also noted that the Japanese government would initially help in the conduct of feasibility studies. The financing of the major infrastructure projects to be financed by Japan whould be done with the help of several agencies such as the Japan Bank for International Cooperation (JBIC) and the Japan Internationl Cooperation Agency (JICA).

The meeting between the Philippines and Japan is the second gathering of Japanese and Filipino leaders which is considered as a "testament to the rejuvenated relations between Manila and Tokyo under the governments of Pres. Rody Duterte and Prime Minister Abe."

The first meeting of the group was held in Japan last March while date and venue for the third meeting was not determined yet.

Source: (Joann Santiago/PNA)

Duterte Admin Submits P215 Billion Infrastructure Project Proposals for Japanese Financing Duterte Admin Submits P215 Billion Infrastructure Project Proposals for Japanese Financing Reviewed by Phil Newsome on 7/08/2017 Rating: 5

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