Philippines, Japan to discuss infra-funded projects

MANILA, Philippines — Officials from Manila and Tokyo are set to hold a meeting today to discuss infrastructure projects that are financed by the Japanese government, the first conference of such under the new administration of Japan Prime Minister Yoshihide Suga.

In a statement, the DOF said the Japan-Philippines Joint Committee on Infrastructure Development and Economic Cooperation is holding its 10th meeting today through an online conference due to travel restrictions brought about by the coronavirus pandemic.

Finance Secretary Carlos Dominguez will chair the Philippine side, while Hiroto Izumi, the special advisor to Prime Minister Suga, is expected to lead the Japanese side of the committee.

According to the DOF, the committee is expected to tackle the progress of Japan-funded infrastructure projects, including the Metro Manila Subway Project (Phase I), North-South Railway Project, Metro Rail Transit Line 3 (MRT-3) Rehabilitation Project, Davao City Bypass Construction Project, and the Cebu-Mactan Bridge and Coastal Road Construction Project.

On top of Build Build Build projects, the panel would also provide updates on Japan’s assistance to the Philippines’ COVID-19 response efforts, the DOF said.

Both sides will discuss the impact of the pandemic on the implementation of infrastructure projects, as well as the safety of workers involved in the construction of the projects.

The Philippines is also expected to share developments on the Mindanao peace process, the ongoing rehabilitation of Marawi City, and the new Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

Japan, for its part, will provide updates on its ongoing assistance to Mindanao under the framework of the Japan-Bangsamoro Initiatives for Reconstruction and Development and other programs designed to help promote stability and economic growth in the new autonomous region.

Japan ranks as the top source of official development assistance (ODA) for the Philippines, with loan and grant commitments amounting to around $10.1 billion as of June.This represents 38.53 percent of the country’s total ODA portfolio.

As of June, loans from Japan amounted to $10.03 billion, which accounted for 40.77 percent of the country’s foreign loans, while grants reached $69.45 million.

Since the start of the Duterte administration, the Philippines and Japan have signed 15 loan agreements worth a combined Y679.3 billion (approximately P317 billion or $6.24 billion).