Japan Lends 1.3 Trillion Yen To PH To Help Build Railways, Ease Traffic Congestion
JAPAN – The Japanese government and Japan International Cooperation Agency (JICA) commits 1.3 trillion Yen to fix traffic problems and build more railways.
The “Land of the Rising Sun” Japan is considered one of the most progressive countries in the world. Japanese people are always on the top when it comes to high technologies.
When their country is struck by an earthquake, the damages will be repaired in days or even hours.
Recently, Japan decided to help its neighboring countries like the Philippines. Traffic congestion has been an issue of the country for decades now.
Based on a report from Inquirer, the government of Japan and it’s aid arm Japan International Cooperation Agency (JICA) commit to lending 1.3 trillion yen or P620 billion to the Philippines.
The money will be used to fix traffic congestion and build more railways in big cities like Metro Manila.
According to the report, Philippine senior representative of JICA, Kiyo Kawabuchi, said that their agency has pledged Official Development Assistance (ODA) loans to the Philippines worth 400-billion yen for the road projects.
Here are the following railway projects that are using the JICA finance:
- LRT Line 2 East Extension
- Light Rail Transit (LRT) Line 1 Cavite Extension
- North-South Commuter Railway
- Metro Rail Transit (MRT) Line 3 Rehabilitation
- Metro Manila Subway
Kiyo Kawabuchi said the aid agency is expected to add 900 billion yen more to finish the road projects in the Philippines.
“For the railway sector, [Jica’s assistance] in itself is quite a huge amount,” she said.
Kawabuchi also expressed that JICA’s ODA in the country “aims to impact on wealth being distributed to other areas outside Metro Manila through investments and jobs.”
Based on the report, JICA’s senior representative believed that the project will surely make the lives of the Filipinos easier.
“Once completed, these transport infrastructure projects will help realize the shared vision of Jica and the Philippines towards reduced traffic congestion, seamless mobility, and better quality of life of many Filipinos,” said Kawabuchi.
Surely, lots of Filipino people are looking forward to experiencing a positive change in the country.
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