[Trending Now] TRAFFIC SOLUTION: Japan to fund $2.4 Billion For A Railway In the Philippines!
Duterte has been asking the Congress to grant him emergency powers to solve Manila's worsening traffic . But this might just be the ...
Duterte has been asking the Congress to grant him emergency powers to solve Manila's worsening traffic. But this might just be the best solution! Japan announced to be funding up to $2.4 Billion for the 38-kilometer elevated commuter line to connect Manila and Bulacan to help decongest the traffic that has been downgrading the economic activity of the capital.
Masato Ohtaka, deputy secretary for Japan's foreign ministry said: ""This is one of the biggest projects Japan has ever embarked upon using the yen loan,"
"Railways are one of our fortes ... We sympathize with the Filipinos that this is a project that needs to be done very, very quickly." he added.
The two nations continues to make their bond stronger in these transactions. In fact, g Japanese Foreign Minister Fumio Kishida and President Duterte met last Thursday in Davao to discuss vessels and aircrafts to be donated and for leasing that aims to strengthen the country's defense against China's aggression in connection with the recent maritime disputes.
Meanwhile, the japanese loan for Transportation Department is payable for 40 years, but Ohtaka didn't give a deadline and a tentative timeline yet for the project.