Friday, July 7, 2017

Japan will fund 9 Infra Projects for Philippines


Saturday| July 8, 2017

Philippine officials said Friday that nine infrastructure projects cumulatively worth some P350 billion ($7 billion) are in line for possible funding from the Japanese government.

After a meeting between government officials from both countries held in Manila, Philippine officials said the projects are still under negotiation and will be further discussed this year.

"The next meeting, I suppose, we will focus on the actual issues on the implementation," Philippine Finance Secretary Carlos Dominguez said, adding that his country's government has been streamlining its processes to prepare for the implementation.

The two big-ticket items on the list are the planned Mega Manila Subway (phase I), which has a projected cost of P214 billion, and the Malolos-Clark Railway Project, which amounts to P93.4 billion.

Philippine Socioeconomic Planning Secretary Ernesto Pernia said it is possible that there may still be more infrastructure projects added to the list in their next meeting, which is expected to be held before November.

SOURCE: ABSCBN

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