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Manila Bulletin devider Business devider PH, Japan to hold infra meeting on Wed.

PH, Japan to hold infra meeting on Wed.

Published Feb 14, 2022 02:12 pm

The Philippines and Japan will hold another high-level meeting on infrastructure development and economic cooperation this week, the Department of Finance (DOF) announced.

Via teleconferencing on Wednesday, Feb. 16, Finance Secretary Carlos G. Dominguez III will chair the Philippine side, while Mori Masafumi, the Special Advisor to Prime Minister Fumio Kishida of Japan, will lead the Japanese delegation in the meeting.

Discussions during the meeting of the Philippines-Japan High Level Joint Committee on Infrastructure Development and Economic Cooperation will center on the substantive accomplishments made by the body on the Japan-supported big-ticket projects under “Build, Build, Build” program.

These are, among others, the Metro Manila Subway Project (MMSP), North-South Commuter Railway (NSCR) project, rehabilitation of the Metro Rail Transit Line 3 (MRT-3), Dalton Pass East Alignment Road, Central Mindanao Highway and the Parañaque Spillway.

The first meeting of the high-level committee was held in March 2017 in Tokyo.

It was part of the commitment made two months earlier by then-Japan Prime Minister Shinzo Abe to provide one trillion yen, about $9 billion, in financing support to the Philippines over the next five years.

It was also part of the commitment to establish a Joint Committee on Infrastructure Development and Economic Cooperation to coordinate this assistance.

This commitment was completed in July 2021 under the administration of then-Prime Minister Yoshihide Suga, who was the Chief Cabinet Secretary during Prime Minister Abe’s term.

In this week’s meeting, the two sides will provide updates on the financing extended by Japan for the Philippines’ COVID-19 response programs and the progress of the Japan-funded programs in support of the Mindanao peace process.

Japan has been actively supporting these peace-building programs through the framework of the Japan-Bangsamoro Initiatives for Reconstruction and Development (J-BIRD).

Through various international organizations, Japan also provided the Philippines last month with a $13-million emergency grant aid for the implementation of humanitarian assistance activities for the victims of Typhoon Odette.

Last July 8, the Philippines received a shipment of over one million AstraZeneca doses donated by the Japanese government, which, since the start of the pandemic, has been in close cooperation with Philippine officials in helping contain the spread of COVID-19.

These Japan-backed projects to help curb the spread of the virus include the COVID-19 Crisis Response Emergency Support Loan (CRESL), the Post-Disaster Standby Loan Phase 2 (PDSL 2), the joint clinical trial for the anti-flu drug Avigan, procurement of medical equipment and establishment of laboratory surveillance sites, and the development of a cold chain system in the Philippines.

Related Tags

DOF Carlos G. Dominguez III build build build infrastructure program Japan Department of Finance Finance Secretary
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