A TOTAL of P23.63-billion in loans and grants was pledged by the Japanese government in support for various public-private partnership (PPP) and development projects in the country.
A statement from the Japanese embassy said Ambassador Toshinao Urabe signed the exchange of notes for two official development assistance (ODA) loans amounting to P23.183 billion for the capacity enhancement of Light Rail Transits (LRT) 1 and 2 and for construction of the New Bohol Airport.
Some P18.56 billion will be used to buy coaches for the expansion of LRT lines 1 and 2, “and thereby contributing to the mitigation for road congestion in Metro manila, air pollution and climate change.”
The government has already rolled out the extension of LRT-1 in Cavite, while the LRT-2 to Antipolo extension has yet to be approved by the National Economic and Development Authority.
PPP Center Executive Director Cosette V. Canilao said a portion of the government’s counterpart budget in the LRT-1 and 2 expansion project will be funded by the ODAs.
Another PPP project-the New Bohol airport-has also received P10.78 billion in loan for the construction of the new airport in Panglao island to replace the existing Tagbilaran airport.
Construction of the Panglao airport will be funded by the ODA, while operation and maintenance will be auctioned. Schedule of roll out has yet to be announced.
For grant aid projects, the Japanese government has allotted a total of P446 million for infrastructure projects in the North of Manila.
IFUGAO PLANT
Construction of the mini-hydropower plant (810 kilowatts) in Ifugao received P383 million to “promote usage of domestic resources of renewable energy and sustain rice terrace conservation.”
Another P63 million will be used for a mini-hydro power development project in Isabela (45 kilowatts).
Existing irrigation system in Isabela will be used for the project.
“Yen loan projects will support the efforts by the Philippine government and the Filipinos people in achieving inclusive growth, as described in the Philippine Development 2011-2016… from the viewpoint of the improvement of traffic and transportation network,” the statement read.
Source: Noemi M. Gonzales, BusinessWorld. 26 March 2013.
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