Palace welcomes $2-B financial aid from Japan

By on August 10, 2015


TOKYO, Japan – President Benigno S. Aquino III exchanges pleasantries with Japanese Prime Minister Shinzo Abe during the Summit Meeting & Working Lunch at the Prime Minister’s Official Residence in 2-3-1 Nagata-cho, Chiyoda-ku, Tokyo on Tuesday (June 24, 2014). The meeting is an opportunity for the two leaders to exchange views on recent regional developments and to discuss areas of cooperation to enhance the Philippines-Japan Strategic Partnership. (PLDT powered by SMART) (Photo by Gil Nartea/ Malacañang Photo Bureau/PNA)
TOKYO, Japan – President Benigno S. Aquino III exchanges pleasantries with Japanese Prime Minister Shinzo Abe during the Summit Meeting & Working Lunch at the Prime Minister’s Official Residence in 2-3-1 Nagata-cho, Chiyoda-ku, Tokyo on Tuesday (June 24, 2014). The meeting is an opportunity for the two leaders to exchange views on recent regional developments and to discuss areas of cooperation to enhance the Philippines-Japan Strategic Partnership. (PLDT powered by SMART) (Photo by Gil Nartea/ Malacañang Photo Bureau/PNA)

MANILA — Malacanang recently welcomed the pledge of the Japanese government to donate $2-billion official development assistance (ODA) package.

The said financial aid is for the construction of a 36.7-kilometer narrow-gauge elevated commuter railway.

The transport system will be travelling from Malolos, Bulacan to Tutuban in Manila.

“The ODA package would be a boon to our ongoing efforts to improve and modernize our public transport system,” Communication Secretary Herminio Coloma Jr. said.

Also known as Phase 1 of the the North-South Commuter Rail Project is one of the agreements signed during the state visit of President Aquino to Japan last June.

It aims to become the single-biggest ODA loan package that Japan has offered any development partner.

“This ODA package is a firm testament to the robust bilateral relations between the Philippines and Japan and affirms the confidence and support of the Japanese government to the reforms undertaken by the Aquino administration,” Coloma said.

“Japan has been a valuable partner of the Philippine government in promoting lasting peace in Mindanao through the Japan-Bangsamoro Initiative for Reconstruction Development project,” the spokesman added.