PHL eyes Japanese funding for two more big-ticket infra projects

Aside from the Mega Manila Subway, the Philippines is now working on securing from Japan the funding for two other infrastructure projects, the Department of Finance (DOF) said Tuesday.

In an emailed statement, the DOF said these are the $197-million Cavite Industrial Area Flood Risk Management Project and the $4.27-billion Malolos-Clark Railway.

The flood management project is under the Department of Public Works and Highways, while the Railway is a project of the Department of Transportation and the Bases Conversion Development Authority.

These are on top of the P227-billion Mega Manila Subway, which is scheduled to be designed by Japan and Philippines starting this month.

According to the DOF, the government is now working to complete the necessary documents before the 31st Association of Southeast Asian Nations (ASEAN) Summit and Related Meetings in Manila on November 10 to 14.

“The Department of Finance is working on the funding requirements ... in time for the possible issuance of the formal pledge by the Government of Japan or exchange of diplomatic documents during the return visit of Prime Minister Shinzo Abe to the Philippines,” it said. — Jon Viktor Cabuenas/VDS, GMA News