Home Headlines Japan to help in Subic Freeport master plan

Japan to help in Subic Freeport master plan

347
0
SHARE

SUBIC BAY FREEPORT — The Japanese government will provide technical assistance in crafting a master plan for the development of this freeport and its surrounding areas.

The master plan will cover road network development, logistics, terminal development, disaster risk management, and other public utilities development. This would update previous master plans, considering climactic and other considerations.

In a belated statement, the Department of Finance (DOF) said Japan Prime Minister Shinzo Abe pledged this to Pres. Duterte during their recent bilateral meeting on the sidelines 35th Association of Southeast Asian Nations (ASEAN) Summit in Bangkok, Thailand.

“The two leaders affirmed that the Japanese assistance is a testament to the deepening strategic partnership between Japan and the Philippines,” the DOF statement said.

“Japan remains to be the No. 1 provider of Official Development Assistance (ODA) loans and grants to the Philippines, totaling $8.26 billion (46% share of the country’s total ODA loan portfolio) as of December 2018,” the DOF noted.

The agency, however, did not say whether Japan would provide funding for the master plan.

Ten loan agreements with Japan providing funding for several projects under the “Build, Build, Build” program have been signed between Manila and Tokyo since 2016, the DOF noted.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here