PH, Japan ink P75.5-B loan pact for key infra projects in Vis-Min

Published June 17, 2020, 12:00 AM

by manilabulletin_admin

By Betheena Unite

Two priority projects under the government’s Build, Build, Build program obtained multi-billion funding from Japan after the Philippines and Japan International Cooperation Agency (JICA) signed a P75.5-billion deal recently.

The Department of Public Works and Highways disclosed Wednesday that an estimated 154 billion Japanese yen loan was granted to the country to fund the construction of the Cebu-Mactan Fourth Bridge and the Coastal Road Construction project in Central Visayas.

Finance Secretary Carlos Dominguez III and JICA Philippines Chief Representative Eigo Azukizawa signed on Tuesday the P57-billion Official Development Assistance, Public Works and Secretary Mark Villar said.

According to Villar, the supplemental financing of P18.5 billion (JPY35 billion) for the Davao City Bypass Construction Project was also included in the deal.

“These two projects are among the legacies that the ‘Build Build Build’ program would like to leave to every Filipino, in our quest to elevate their living condition through infrastructure development and economic growth,” Villar furthered.

Davao City Bypass Road is a four-lane, 45.5-kilometer road starting from Davao-Digos section of the Pan-Philippine Highway in Barangay Sirawan, Davao City going to Davao-Panabo section of the Pan-Philippine Highway in Brgy J.P. Laurel, Panabo City.

The Mactan-Cebu Bridge, on the other hand, is a 3.3-kilometer bridge with an elevated viaduct of 3.385-kilometer with two lanes in each direction; and a 4.9-kilometer, four-lane coastal road.

The bridge will connect Mandaue City of Cebu Island and Lapu Lapu City of Mactan Island and a connecting coastal road which will contribute to alleviate serious traffic congestion as well as economic and social development in the region.