Japan pledges funding for PH projectshome/Business/Top Business/Japan pledges funding for PH projectsJapan has committed to fund two infrastructure projects in Manila costing 205 billion yen following a high-level meeting on Wednesday. One of the documents covers a 37.905-billion yen (about $336.24 million) loan for the Pasig-Marikina River Channel Improvement Project Phase IV to mitigate frequent massive flooding. “In this latest meeting, both sides confirmed the updated candidate list of projects for consideration and action. This list includes new projects proposed for Japanese loan and grant financing,” Finance Secretary Carlos Dominguez 3rd said in a press conference after the signing. Both sides also reaffirmed their commitment to ensure the start of partial operations of the first phase of the Metro Manila Subway Project by May 2022, he added.

Source: Manila Times November 22, 2018 16:18 UTC