Japan-funded bridge in Laguna to be inaugurated Monday

MANILA, Philippines — A Japan-funded 40-meter bridge that promises to boost the Caliraya Lake Eco-Tourism project and ensure safe flow of goods will be inaugurated on Monday. The Japanese Embassy website said the 40-meter long Cavinti Bridge crosses the Bumbungan River and connects Cavinti Proper with Caliraya Lake site. "The completion of the Cavinti Bridge ensures the viability of the Caliraya Lake Eco-Tourism Project, contributing to the safe and efficient flow of goods and people, especially during heavy rains and typhoons," it said. Japanese Ambassador Makoto Katsura will attend the inauguration of the Cavinti Bridge in Tibatib village in Cavinti, Laguna on Monday. Cavinti Bridge is part of the Japan-funded Urgent Bridges Construction Project for Rural Development, which will build new bridges on national roads that lead to urban centers. The Japanese government provided an 18.5-billion yen (P8-billion) loan through the Japan International Cooperation Agency (JICA). "With an interest rate of 0.95% per annum (0.75% for consulting services) and a 40-year repayment period with a 10-year grace period, this yen loan provides the most concessional terms among various funding sources," it said. The project is in line with Japan's ongoing commitment to help develop the infrastructure as a basis for further economic growth of the Philippines. "Completion of the Cavinti Bridge, together with the other 152 bridges included in the project, will improve the transportation network in Luzon and other areas all over the Philippines, enhancing the growth of regional economies," it said. GMANews.TV