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Philippines Daily | November 22, 2017

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Japan To Provide P46 Billion For Manila Subway Project

Japan To Provide P46 Billion For Manila Subway Project

| On 15, Nov 2017

The ASEAN can indeed bring some good news to host countries.

Japan, an economic powerhouse of the world, is set to help the Philippines to fund projects from transportation to rebuilding of a broken place.

President Rodrigo Duterte and Japan Prime Minister Shinzo Abe just witnessed the signing of diplomatic notes during the ASEAN Summit. It has been noted that this January, Japan will sign a loan agreement with the Philippines for the Manila Subway Project.

The Manila Subway which will be finished by 2027. When finished, it can help 500,000 passengers daily from Quezon City to Taguig and may even extend up to NAIA.

Japan will also grant Philippines 2.5 billion yen (P1 billion) for the rehabilitation of war-torn Marawi.

Japan’s Ministry of Foreign Affairs said the three major projects of the Philippines costs 1 trillion yen and were all planned to support Philippines for the next five years.

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