Japan Guarantees Loan for Philippines Railway Project

Japan has committed $2 billion in loans for a rail project connecting the Philippines’ capital Manila and neighboring Bulacan province, part of its ongoing development assistance efforts.

August 7, 2015 4:20 pm

Japan has pledged a 240 billion yen ($2 billion) loan to the Philippines for a commuter rail project connecting the capital Manila and a neighboring province.

Philippine Foreign Affairs spokesman Charles Jose said Japan’s latest official development assistance was announced by Japanese Senior Vice Foreign Minister Minoru Kiuchi in his meeting Wednesday with Philippine Foreign Affairs Secretary Albert del Rosario on the sidelines of regional meetings in the Malaysian capital.

According to a statement released by the Philippine Department of Foreign Affairs, the project, called North-South Commuter Rail Project Phase 1, will involve the construction of a 36.7-kilometre narrow-gauge elevated commuter railway from Malolos City in Bulacan province to the heart of Manila.

Source : bangkokpost.com

TAGS: japan loans for philippine railway project, Philippine malolos city bulacan railway news, Philippine railway projects latest news, Philippines North-South Railway Project

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