MANILA, Philippines – Philippines and Japan on Tuesday signed two loan projects worth P13 billion.
The two projects were the Metro Manila Priority Bridges Seismic Improvement Project and the Davao City Bypass Construction Project (South and Center Sections) which were signed and noted by Philippine Foreign Affairs Secretary Albert del Rosario and Japanese Ambassador to the Philippines Kazuhide Ishikawa.
Department of Finance Secretary Purisima and Japan International Cooperation Agency President Akihiko Tanaka were also present to seal the loan agreement for the two projects.
The Metro Manila Priority Bridges Seismic Improvement Project of the Department of Public Works and Highways (DPWH) will cover replacement, retrofitting and reinforcement of the Guadalupe Bridge and Lambingan Bridge to strengthen the resilience of the transport network in Metro Manila in case of large-scale earthquakes.
Meanwhile, the Davao Bypass Construction Project, Package 1 – South and Center Sections also initiated by DPWH will construct a two-lane, 28.8-kilometer bypass consisting of road, tunnel and bridge sections. The project seeks to improve the transport logistics and ease congestion in Davao City.
Last May, the Philippines and Japan also inked a grant agreement that will provide 1.117 billion Japanese yen or almost P500 million for rehabilitation of conflict areas in Mindanao.
Japan has consistently been the Philippines’s top source of bilateral official development assistance through its loans, grants and technical cooperation.
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