The Japan International Cooperation Agency (JICA) has entered into an agreement with the Philippine government to offer an official development assistance (ODA) loan of as much as $985 million for the primary phase of the Metro Manila Subway project.
According to the agreement, the loan will bear an rate of interest of 0.10% every year and might be repaid inside 40 years with a 12-year grace period.
The loan might be used for the development of stations, underground tunnels between stations, depots and other public works, in addition to the acquisition of rail systems and rolling stock.
It may also contribute to the availability of advisory services comparable to procurement assistance, construction supervision and transit-oriented development support.
The project development will proceed to use the Special Conditions for Economic Partnership (STEP), which refers to special aid conditions aimed toward promoting the visibility of Japanese aid through the transfer of Japanese technology and expertise to developing countries.
Metro Manila might be built by the Philippine Department of Transportation and can consist of 13 metro stations with a length of roughly 25 km. It is the primary metro within the Philippines connecting Quezon City with Parañaque.
https://www.youtube.com/watch?v=uNYmvgFNToo
Once accomplished, the project is anticipated to fulfill growing transportation needs and reduce traffic congestion in Metro Manila, one in all the three metropolitan areas within the Philippines. The area’s population has skyrocketed from 7.92 million in 1990 to 12.87 million in 2015, even though it is currently served by only three 50 km long railway lines.
The investment is anticipated to be accomplished in September 2025, in any case facilities are put into operation.
Source: railway-technology.com
