PHL, Japan to formalize three more loans for infra projects in Q1 2019

The Philippines is formalizing loan agreements with Japan in the first quarter of the year, covering three infrastructure projects, the Department of Finance (DOF) said Tuesday.

The loan agreements are for flood control projects in Metro Manila, and accessibility and linkages projects in conflict areas in Mindanao, the DOF said in a statement.

The loan for the North-South Commuter Railway Extension project is scheduled to be signed this January.

The loan agreements for two other projects will be signed within first quarter, covering phase four of the Pasig-Marikina River Channel Improvement Project and the Road Network Development Project in Conflict-Affected Areas in Mindanao.

Last November, the Philippines and Japan signed and exchanged the documents on the Japanese government’s commitment to assist in financing the Pasig-Marikina Project and the North-South Commuter Railway.

Japan is likely to fund more Philippine infrastructure projects through grants and loans, Finance Secretary Carlos Dominguez at that time. —VDS, GMA News