One of the world’s most advanced economies, the Japanese government through its aid arm Japan International Cooperation Agency (JICA) has pledged to lend 1.3 trillion yen (about P620 billion) to the Philippines under the administration of Pres. Rody Duterte to help build more railways and ease traffic congestion in the country.
According to Kiwo Kawabuchi, JICA Philippines senior representative confirmed that the aid agency already committed development assistance (ODA) loans worth 400-billion yen railway projects.
Japan’s major assistance project in the Philippines include the following: Light Rail Transit (LRT) Line 1 Cavite Extension; LRT Line 2 East Extension; Metro Manila Subway; Metro Rail Transit (MRT) Line 3 Rehabilitation; and North-South Commuter Railway.
Kawabuch added further that JICA would have to add 900 billion yen more to its lending program for the Philippines to complete the ongoing railway projects.
For the railway sector, [Jica’s assistance] in itself is quite a huge amount,” she noted.
The Department of Transportion (DOTr) under the Secretary Arthur Tugade which is considered as one of the lead agency in the Build, Build, Build Program aimed to triple the total length of Metro Manila’s railway lines to 244 kilometers from 79 kilometers at present.
The agency JICA estimates that the Philippines lost at least P3.5 billion in terms of opportunities last year due to traffic, which is upfrom the P2.4 billion estimates in 2014.
source: pna