• The country plans to inaugurate its first subway system by 2022
• The Metro Manila Subway will be funded through a loan from Japan
• The loan agreement is expected to be formally signed in November this year
The country will have its first subway system not later than 2022 – before President Rodrigo Duterte ends his term – if plans do not miscarry.
According to ABS-CBN, Department of Transportation Secretary Art Tugade announced that the Philippines and Japan agreed on the multi-billion project during the World Economic Forum held in Cambodia early this week.
The P300-billion ambitious project will be funded though a loan from Japan. The loan agreement is expected to be signed on Japanese Prime Minister Shinzo Abe’s visit to the country this coming November for the ASEAN-East Asia Summit.
“As we would like to mention again now, JICA (Japan International Cooperation Agency), which is spearheading the project agreed that the loan agreement between Japan and the Philippines hopefully will be formally signed in November when the Prime Minister (Abe) would have visited the country,” Tugade revealed.
The subway system, as per DOTr’s Facebook page, is “part of the Build Build Build masterplan of the Duterte administration, aimed to further propel economic activities by improving efficient interconnectivity to Filipinos.”
The subway system will interconnect business centers in Makati City, Pasay City and Taguig City.