SOURCE: DOF
Embarking on a mission to ensure the efficient implementation of official development assistance (ODA)-funded infrastructure projects, Finance Secretary Ralph G. Recto has initiated a series of worksite visits. The first stop on this journey? The Metro Manila Subway, a visit that occurred on February 26, 2024.
The Metro Manila Subway Project Phase 1, the country's first underground mass transport system, is the third largest project under the Marcos, Jr. administration’s Build Better More program. This project is set to redefine not just transport, but also everyday life in the city.
The DOF-International Finance Group (IFG) is securing foreign grants and loans to fund infrastructure projects and various development projects. These projects are key instruments in driving the country's rapid economic growth.
The subway, once operational in 2029, will drastically reduce travel time and increase efficiency. This new transport system will connect Valenzuela City to Pasay City, with a branch line going to NAIA Terminal 3 in Paranaque City.
A substantial portion of the project's cost will be financed through an ODA loan from the Japan International Cooperation Agency (JICA). This financing model, known as a time-sliced loan, is geared towards large-scale projects.
Traffic congestion in Metro Manila has substantial economic repercussions, costing the Philippine economy billions per day. Secretary Recto is determined to rectify this situation through the implementation of the subway project.
The government has invested in advanced Japanese technology to ensure the subway construction is resilient in the face of natural disasters. Innovative features like flood management and advanced seismic technology have been incorporated into the design.
Secretary Recto expressed his confidence in Transport Secretary Jaime J. Bautista and the Department of Transportation (DOTr) to ensure timely completion of the project.
JICA Philippines’ Chief Representative Sakamoto Takema, in coordination with the DOTr, is crafting an organized masterplan for the Philippines’ railway system. This masterplan is a testament to the administration's dedication to delivering top-notch infrastructure projects.
The promise of a future where traffic no longer disrupts the lives of Filipinos is a beacon of hope. Secretary Recto's dedication to ensuring efficient implementation of ODA projects is a significant step towards this future.
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