PH set to sign over Y600B loan deals with Japan — DOF

The Philippines and Japan, reaffirming their longstanding economic partnership, are set to enter into over ¥600 billion or about P230 billion worth of financing agreements, according to the Department of Finance (DOF).

In a statement issued Friday, the DOF said Finance Secretary Frederick Go stressed both nations’ economic and diplomatic ties during the 42nd Annual Joint Meeting of the Philippine and Japan Economic Cooperation Committees held on February 19, 2026.

In his keynote, the DOF said Go announced that before the close of Japan’s fiscal year 2025, the Philippines is targeting the signing of three additional critical financing agreements amounting to ¥243.31 billion or about P91.1 billion (approximately $1.58 billion), covering infrastructure projects including the Metro Manila Subway and the Central Mindanao Highway.

Japan’s fiscal year begins on April 1st of every year and ends on March 31st of the following year.

For the Japanese fiscal year 2026, the Finance chief also announced that both governments are aiming to finalize 11 more financing agreements amounting to ¥371.31 billion or about P139.02 billion (approximately $2.41 billion), “further strengthening infrastructure priorities and Japan’s development support,” according to the DOF.

The Finance Department said that since the start of the Marcos administration, the Philippine government has signed 12 financing agreements with Japan amounting to ¥910.38 billion or about P340.7 billion (approximately $5.92 billion).

“All these figures speak volumes. They reflect trust in the Philippines’ economic direction, confidence in our institutions, and a shared belief in long-term partnership,” said Go.

Japan is the Philippines’ largest provider of Official Development Assistance (ODA). 

As of December 2025, total loan and grant commitments from Japan reached approximately $13.96 billion, accounting for 33.54% of the country’s total ODA portfolio.

“Japan has been with us at every critical juncture of our development journey. And today, we stand not only as partners—but as co-architects of shared prosperity in the Indo-Pacific,” said Go.

“Each project reflects Japan’s reputation for quality infrastructure—durable, efficient, and future-ready. And each project reflects the Philippines’ determination to build better, faster, and smarter,” said the Finance chief. — RSJ, GMA Integrated News