PH, Japan sign P116B 2nd tranche loan for Metro Manila Subway

Published July 28, 2021, 11:46 AM
The Philippines and Japan on Tuesday, (July 27) formally signed an additional P116-billion (JPY253 billion) loan package to finance the building of the country’s first underground railway.
Foreign Affairs Secretary Teodoro Locsin, Jr. and Japan Ambassador to the Philippines Koshikawa Kazuhiko signed the exchange of notes for the official development assistance (ODA) loan.
Foreign Affairs Secretary Teodoro Locsin, Jr. and Japan Ambassador to the Philippines Koshikawa Kazuhiko signed the exchange of notes for the official development assistance (ODA) loan.
The second tranche of the project’s ODA loan has an interest rate of 0.10% per annum, is 40 years to pay, and has a 13-year grace period.

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