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Published July 29, 2021, 9:35 AM
The governments of Japan and the Philippines have successfully concluded the conduct of the 11th High-Level Joint Committee Meeting on Infrastructure Development and Economic Cooperation between the two countries.
In the virtual meeting held on Wednesday, July 28, both sides recognized the significant developments achieved in ongoing joint infrastructure projects and pandemic-response cooperation measures as a result of the high-level joint committee meetings held in the past few years.
Some of the fruits of the previous Philippines-Japan engagements include the Metro Manila Subway rolling stock contract signing, LRT-2 extension, Parañaque Spillway Flood Control Feasibility Study, COVID-19 Crisis Response Emergency Support Loan, Post-Disaster Standby Loan Phase 2, AstraZeneca COVID-19 vaccine provision, and cold chain facility development for the vaccination rollout.
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.