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Japan lends P65 B to PH for infra, climate change
March 25, 2025
|The Philippine Star
The Philippines and Japan have signed P65 billion worth of loan financing for five projects aimed at boosting infrastructure and climate change initiatives in the country.
During a high-level meeting of the two governments yesterday in Manila, Finance Secretary Ralph Recto and Japan International Cooperation Agency country chief representative Baba Takashi led the signing of loan agreements amounting to JPY 171.58 billion or roughly P65.43 billion.
This was conducted on the sidelines of the 15th Philippines-Japan High-Level Joint Committee Meeting on Infrastructure Development and Economic Cooperation as part of efforts to expedite the rollout of Japan-supported projects in the Philippines.
Recto and Takashi signed the financing for the third phase of the Davao City Bypass Construction project worth JPY 46.34 billion (P17.67 billion).
The country's first-ever long-distance mountain tunnel in the Philippines is aimed at enhancing connectivity and accessibility in Davao City.
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