Phl lists 14 projects for Japan funding
Updated March 31, 2017 – 12:00am
http://www.philstar.com/
MANILA, Philippines – Fourteen infrastructure projects have been lined up for possible Japanese financing, three of which – collectively valued at $8.82 billion – will be prioritized for funding and implementation in the near term, Socioeconomic Planning Secretary Ernesto Pernia said yesterday.
To be prioritized in the provision of official development assistance (ODA) through the Japan International Cooperation Agency (JICA) are the $4.25-billion Mega Manila Subway System, the $1.9-billion Malolos-Tutuban North-South Commuter Railway Project (NSCR) and the $2.67-billion commuter line extending the NSCR from Tutuban to Los Baños.
The first phase of the Mega Manila Subway, said Pernia, will run from the former Food Terminal Inc. (FTI) complex in Taguig to North EDSA, passing through Ortigas. The feasibility study for the subway is expected to be completed in September while the loan agreement is expected to be signed in November when Japanese Prime Minister Shinzo Abe arrives in the country for the ASEAN Summit.
“These are really mega projects and I would consider these flagship projects,” Pernia told reporters.
The value of 11 other projects have yet to be determined pending the completion of financial and feasibility studies in the coming months.
Among these are the Malitubog-Maridagao Irrigation Project and the Cavite Industrial Flood Management Project. The other projects, that Pernia declined to identify for the meantime, involve railways, expressways and water supply facilities. These also include infrastructure projects meant to spur development in Mindanao.
A mix of ODA loans and grants will be used to finance the infrastructure projects lined up for funding.
NEDA deputy director general for investment programming Rolando Tungpalan said the projects lined up are part of the 1 trillion yen ($9 billion) in investments and development assistance pledged by Abe during his visit to the Philippines in January.
“After Prime Minister’s Abe’s successful visit to the Philippines, we talk to their leaders so these commitments are translated to concrete actions and timelines. We have a big support from the Japanese government on infrastructure development,” he said.
For the projects to be approved for financing, the quality of the projects must be assured, said Tungapalan.
“At the end of the day, it’s really about the quality of the projects that will be submitted,” he said, noting these projects must be free from technical issues that affect viability and implementability such as right of way issues.
Other projects may be funded within the administration provided that the government can present proposals that are viable and well-prepared, said Pernia.
He said the country’s revived economic cooperation with Japan is currently focused on infrastructure development but may be extended to other forms of economic cooperation.
“During this administration, infrastructure development is given a lot of importance,” he said. – With Grace Padin
