PH, Japan infrastructure meet set in Hakone on December 6

06-Dec-2019 Intellasia | UNTV News | 6:02 AM Print This Post

Economic officials from the Philippines and Japan are set to meet on December 6, Friday to discuss the progress of the Duterte administration’s big-ticket infrastructure projects being financed by Tokyo.

Finance Secretary Carlos Dominguez III, and Economic and Planning Secretary Ernesto Pernia will lead the Philippine delegation, while Dr Hiroto Izumi will head the Japanese team in the next high-level meeting set in Hakone town in eastern Japan.

The Department of Finance (DOF) said in a statement the meeting of the Philippines-Japan Joint Committee on Infrastructure Development and Economic Cooperation will be the ninth such dialogue between the two countries.

The first meeting was convened in March 2017 at Kantei, the prime minister’s Office in Tokyo, Japan, while the most recent was held at a hotel in Clark, Pampanga.

Dominguez said the regular meetings held between the two countries is part of the “fast and sure” approach adopted by the two countries to ensure the smooth and swift implementation of the Japan-funded projects under President Rodrigo Duterte’s signature “Build, Build, Build” infrastructure modernisation programme.

“A clear demonstration of this ‘fast and sure’ approach was the signing of 10 loan agreements between Manila and Tokyo since President Duterte assumed office in June 2016,” he added.

These loan agreements include Maritime Safety Capability Improvement Project for the Philippine Coast Guard (Phase II), Harnessing Agribusiness Opportunities through Robust and Vibrant Entrepreneurship Supportive of Peaceful Transformation (HARVEST); Cavite Industrial Area Flood Risk Management Project; Arterial Road Bypass Project (Phase III) in Bulacan; New Bohol Airport Construction and Sustainable Environment Protection Project (II); Metro Rail Transit Line 3 Rehabilitation Project; Pasig-Marikina River Channel Improvement Project (Phase IV); North-South Commuter Railway Extension Project or NSCREP (1st tranche of loan); Metro Manila Subway Project or MMSP (Phase I), which is the single biggest venture under the “Build, Build, Build” programme; and Road Network Development Project in Conflict-Affected Areas in Mindanao.

The finance chief noted that several of these agreements involving infrastructure projects were each processed and approved in a short span of 3 to 4 months. The DOF also said that as of December 2018, Japan is still the top provider of Official Development Assistance (ODA) loans and grants totalling $8.26 billion or 46 percent share of the Philippines’ total ODA loan portfolio.

https://sg.news.yahoo.com/ph-japan-infrastructure-meet-set-080101492.html

 


Category: Philippines

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