The Department of Finance said three more loan agreements with Japan are expected to be formalized in the first quarter of 2019.
The DoF said in a statement Tuesday the agreements would involve the implementation of three “Build, Build, Build” infrastructure projects designed to strengthen the transport network of the National Capital Region, mitigate flood risks in Metro Manila and improve accessibility and linkages in Mindanao’s conflict-affected areas.
The DoF’s International Finance Group said the total loans to be extended by the Japan International Cooperation Agency for the three projects—the North-South Commuter Railway Extension Project, the fourth phase of the Pasig-Marikina River Channel Improvement Project and the Road Network Development Project in Conflict-Affected Areas in Mindanao—are estimated at P108.5 billion.
The signing of the loan agreement for the NSCR Extension Project is scheduled this month.
The loan accord for the Pasig-Marikina flood control project, meanwhile, is still under legal review, while the Road Network Development project for Mindanao is set for approval by the National Economic and Development Authority.
