JICA signs 34-B yen loan for PH transport projects
In a move to support quality infrastructure in the Philippines, the Japan International Cooperation Agency (JICA) President Akihiko Tanaka and Finance Secretary Cesar Purisima signed two new infrastructure cooperation projects amounting to JP¥33.689 billion.
Tanaka visited the Philippines this week and signed loan agreements for two infrastructure projects: 1) “Metro Manila Priority Bridges Seismic Improvement Project,” an initiative aiming at strengthening the resilience of the transport network in Metro Manila by replacing and strengthening the Guadalupe and Lambingan bridges utilizing the improved bridge seismic design standard; and 2) “Davao City Bypass Construction Project (South and Center Sections)” aimed at improving accessibility to main infrastructure facilities and mitigating congestion in Davao City by introducing the Philippines’ first long distance tunnel construction.
JICA extends Japanese ODA Loans to both projects under STEP* terms which will help utilize Japanese technologies and experiences.
Tanaka said that through knowledge sharing and technology transfer from Japan, JICA aims to help the Philippines attract quality infrastructure investments. Through the JapanPhilippines cooperation, JICA hopes that it will be able to contribute to the Philippines’ inclusive growth agenda, the JICA chief added.
Japanese Prime Minister Shinzo Abe and President Aquino both committed to cooperating on Philippines’ infrastructure development during the Japan-Philippines Summit in Tokyo last June.
It can be recalled that JICA, together with the National Economic and Development Authority (NEDA), completed last year the Roadmap for Transport Infrastructure Development for Metro Manila and Surrounding Areas in a move to ease traffic in Metro Manila and to promote development in nearby growth areas.
The Roadmap outlines short and long-term components, citing the need to boost infrastructure development such as a new gateway airport, improved road networks and expressways, integrated urban mass-transit network in Metro Manila and roadbased public transport modernization, as well as the need to improve "soft" components such as traffic management systems.
* Special Terms for Economic Partnership (STEP) is extended to a project for which Japanese technologies and know-how will be substantially utilized, based on a partner country’s request to utilize and transfer the technologies.