Phl, Japan continue negotiations on infra projects

The Philippine and Japanese governments are set to meet in Cebu next week to continue their discussions regarding the infrastructure projects of the Duterte administration, which will be financed by Tokyo, according to the Department of Finance.

In a statement, the DOF said the government is set to host the Philippines-Japan High-Level Committee on Infrastructure and Economic Cooperation in Lapu-Lapu City, Cebu on Feb. 12.

This will be the fourth high-level dialogue to be conducted between Philippine and Japanese officials since the first meeting in Tokyo was held in March last year.

Finance Secretary Carlos Dominguez will chair the Philippine side during the meeting, which will also be attended by key members of the government’s Build Build Build team.

The Japanese side will then be led by Hiroto Izumi, special adviser to Prime Minister Shinzo Abe.

Prime Minister Abe committed during his visit to Davao City last year a total of ¥1 trillion in official development assistance and investments to the Philippines for the next five years.

After the 31st Association of Southeast Asian Nations (ASEAN) Summit in Manila November last year, Abe and President Duterte witnessed the signing of several agreements under this ¥1 trillion pledge.

These include the Exchange of Notes for the ¥104.5 billion (about $929.1 million) loan to fund the first phase of the Metro Manila Subway Project of the Department of Transportation.

Dominguez, in behalf of the Philippine government, also signed a ¥15.93 billion ($142 million) loan agreement with Japan International Cooperation Agency chief Representative to the Philippines Susumu Ito for the Cavite Industrial Area Flood Risk Management Project.

The project, which will be implemented by the Department of Public Works and Highways (DPWH), aims to control and mitigate flooding in several areas in Cavite, including General Trias, Imus, Kawit, Noveleta and Rosario.

Manila and Tokyo also inked a ¥9.399 billion ($89 million) loan for the Arterial Road Bypass Project (Phase III) in Plaridel, Bulacan; and a ¥2.5 billion (about $22.2 million) grant for the Economic and Social Development Program, which will benefit the Philippine Coast Guard’s anti-terrorism efforts and DPWH’s quick rehabilitation program for Marawi City.