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Japan provides 277.80-mln-USD worth of loan for public works projects to Philippines

Xinhua, August 25, 2015 Adjust font size:

Japan is extending about 13-billion- peso (277.80 million U.S. dollars) worth of loan to the Philippines for two infrastructure projects.

Philippine Foreign Affairs Secretary Albert del Rosario and Japanese Ambassador to the Philippines Kazuhide Ishikawa signed and exchanged notes on the two yen loan projects, namely, the Metro Manila Priority Bridges Seismic Improvement Project and the Davao City Bypass Construction Project (South and Center Sections) in a ceremony held here Tuesday.

Philippine Finance Secretary Cesar Purisima and Japan International Cooperation Agency President Akihiko Tanaka also signed the loan agreement for the two projects.

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.

On the other hand, 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 southern city of Davao by constructing a two-lane, 28.8-kilometer bypass that consists of road, tunnel and bridge section.

Japan continues to be the Philippines'top source of bilateral official development assistance. Endi