The Japanese government will help the Philippine fund six of thirteen recently National Economic Development Authority (NEDA) Board approved projects including the Metro Manila Subway project.
“Japan is one of our long-time and most trusted development partners. We recognize its commitment to technical excellence in infrastructure,” Socioeconomic Planning Secretary Ernesto M. Pernia said during last week’s 36th Joint Meeting of Economic Cooperation Committees of the Philippines and Japan.
These projects to be funded by Japan have a total cost of PHP715 billion.
Five of six projects are related to transportation, one is related to flood management.
“Our focus on the transportation sector is part of the bigger mission to decongest Metro Manila, and bring development to the regions, which is embedded in our National Spatial Strategy,” Pernia said.
In view of the JICA study’s estimated PhP3.5 billion cost of traffic in Metro Manila, the Cabinet official said that the government is acting to ease traffic congestion in the mega cities of the country.
“This estimated economic loss in daily traffic is massive, and we must act fast. We are looking at this problem in a comprehensive way. We recognize that transportation is the enabler and driver of socioeconomic development, that is why we have the National Transport Policy approved by the NEDA Board.” Pernia said.