The Philippine and Japan have signed 33.7-Billion Yen (PhP13 billion) Loan Projects, August 25. Finance Secretary Cesar Purisima and Japan International Cooperation Agency President Akihiko Tanaka signed the loan agreement for the Metro Manila Priority Bridges Seismic Improvement Project and the Davao City Bypass Construction Project (South and Center Sections).
Foreign Affairs Secretary Albert del Rosario and Japanese Ambassador to the Philippines Kazuhide Ishikawa also signed and exchanged notes on the two yen loan projects, the DFA said.
The Metro Manila Priority Bridges Seismic Improvement Project of the Department of Public Works and Highways (DPWH) aims to strengthen resilience of the transport network in Metro Manila during the occurrence of large-scale earthquakes by replacing, retrofitting, and reinforcing the Guadalupe Bridge and Lambingan Bridge.
While the Davao Bypass Construction Project, Package 1 – South and Center Sections, also by the DPWH, aims to improve the transport logistics and mitigate congestion in Davao City by constructing a two-lane, 28.8 km bypass that consists of road, tunnel, and bridge sections.
“These projects reaffirm Japan’s steadfast commitment in assisting the Philippines in achieving its goal of quality infrastructure development, while strengthening the Strategic Partnership between our two countries. Japan continues to be the Philippines’ top source of bilateral official development assistance,” the DFA said.