DOF inks P8.2-B loan for MRT-3 restoration

The Department of Finance (DOF) on Tuesday said it has secured an P8.2-billion loan from the Japan International Cooperation Agency (JICA) to fund the restoration of the Metro Rail Transit Line 3 (MRT-3) and prepare for its future expansion.

The DOF said the loan agreement represents the third tranche for the project and will cover the repair, renewal, and upgrade of all components of the MRT-3 system, including tracks, signaling, power supply, overhead lines, communications, and station equipment.

The project also includes the transition to four-car trains, allowing an additional 394 passengers per trip in a bid to reduce waiting times, especially during peak hours.

“For Filipinos, this means three important things: fewer delays, shorter waiting times, and a more comfortable and predictable ride to work, to school, and back home to family,” Go said during the signing ceremony.

“When commuters save even 20 minutes a day, that is more time for family and rest. When employees arrive on time, productivity improves. When transportation is reliable, businesses grow and jobs are created,” he added.

The DOF did not disclose the loan terms.

The financing follows Japan’s commitment in February to restore the MRT-3 system to its “original as-designed condition,” underscoring its longstanding partnership with Manila.

“The progress we celebrate today is a testament to the strength of our vital partnership and shared commitment to delivering safe, efficient, and high-quality transportation infrastructure for the people of the Philippines,” JICA chief representative Baba Takashi was quoted as saying.

The MRT-3 recorded 141.63 million passengers in 2025, a 4.2% increase from 135.89 million in 2024.

It marked the first time ridership exceeded 140 million since 2017, following years of maintenance issues, train capacity limitations, and restrictions brought about by the COVID-19 pandemic.—MCG, GMA Integrated News