Japan pledges assistance for Subic Bay master plan

Japan has pledged to extend technical assistance for the development of the Subic Bay Freeport Zone and its surrounding areas, according to the Department of Finance (DOF).

In a statement, the DOF said Japan Prime Minister Shinzo Abe has conveyed Japan’s commitment to provide assistance in crafting a master plan for the regional development of Subic Bay in Pampanga.

This happened during their bilateral meeting on Monday on the sidelines of the 35th Association of Southeast Asian Nations (ASEAN) Summit in Bangkok, Thailand.

“The two leaders affirmed that the Japanese assistance is a testament to the deepening strategic partnership between

Japan and the Philippines,” the DOF said.

According to the DOF, the proposed master plan would outline possible projects in Subic Bay and its surrounding areas, particularly in the fields of road network development, logistics terminal development, disaster risk management and other public utilities development.

Japan remains to be the top provider of official development assistance (ODA) loans and grants to the Philippines, totaling $8.26 billion as of December 2018. This accounts for 46 percent of the country’s total ODA loan portfolio.

Since 2016, the DOF said Manila and Tokyo have signed 10 loan agreements, which provide Japanese funding spport for bigticket infrastructure projects under the Duterte administration’s

Build Build Build program.

These include the $985.3 million loan for the Metro Manila Subway Project Phase 1, and the $143.24 million funding for the North-South Commuter Railway Extension Projects.

Last June, Philippine and Japanese officials also finalized a $202.04 million loan agreement for the construction and improvement of roads in Mindanao’s conflict-affected areas, including Marawi City.

The DOF earlier said the two governments are also targeting to sign within this year a supplemental loan for the ongoing Davao City Bypass Construction Project, as well as loan accords for the New Mactan Bridge Construction Project in Cebu and the second phase of the Metro Manila Priority Bridges Seismic Improvement Project.