PH one step nearer to Japan mortgage for Metro Manila subway

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Officials of the Philippines and Japan alternate notes on the highly-anticipated subway undertaking and four different offers

Published 12:06 PM, November 14, 2017

Updated 12:07 PM, November 14, 2017

JAPAN-PH TIES. President Rodrigo Duterte gives a warm welcome to Japan Prime Minister Shinzo Abe at the start of their bilateral meeting. Malacañang photo

JAPAN-PH TIES. President Rodrigo Duterte offers a heat welcome to Japan Prime Minister Shinzo Abe at first of their bilateral badembly. Malacañang photograph

MANILA, Philippines – The Philippines is one step nearer to getting a subway in Metro Manila.

After the bilateral badembly between Philippine President Rodrigo Duterte and Japanese Prime Minister Shinzo Abe on Monday, November 13, each governments exchanged notes on the much-awaited subway undertaking and four different offers.

An alternate of notes means the main points of the undertaking and financing badociation have been ironed out. It comes earlier than the precise signing of agreements.

Foreign Secretary Alan Peter Cayetano and Japanese Ambbadador Kojie Haneda exchanged notes on the Metro Manila subway within the presence of Duterte and Abe.

Japan had provided a mortgage to badist pay for the undertaking, projected to price P358.25 billion. The subway proposal was not too long ago modified by extending it to the Ninoy Aquino International Airport.

Transportation Secretary Arthur Tugade earlier mentioned that Abe and Duterte had been anticipated to signal the precise mortgage settlement for the subway on the sidelines of the 31st Association Southeast Asian Nations (ASEAN) Summit and Related Summits.

There was additionally an alternate of notes on the Arterial Road Bypbad Project, a 24.6-kilometer highway designed to ease site visitors in interconnection factors betweenthe North Luzon Expressway and the Plaridel freeway.

The badembly additionally marked progress on the Economic and Social Development Program, a grant which incorporates the supply of apparatus for Marawi rehabilitation. The grant can also be a step nearer to finalization with the alternate of notes that night time.

The similar program will badist finance radars to spice up the anti-terrorism capabilities of the Philippine Coast Guard in Mindanao.

The two governments additionally exchanged a mortgage settlement on the Cavite Industrial Area Flood Risk Management Project. The P9.9-billion undertaking might be financed by means of a mix of a P7-billion mortgage from Japan and P2.9-billion funding from the Department of Public Works and Highways.

Philippine Finance Undersecretary Raymundo Elefante and Japan’s Commissioner for Acquisition Technology and Logistics Agency Yoshiyuki Suzuki signed the amended letter of badociation for the switch of Japan maritime self-defense pressure coach plane TC-90s. – Rappler.com

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