Czeriza Valencia (The Philippine Star) - March 4, 2018 - 12:00am
MANILA, Philippines — Six infrastructure projects have been lined up for financing through Japanese official development assistance (ODA) loans, the National Economic and Development Authority (NEDA) said.
In a statement, NEDA said these projects include: Cavite Industrial Area Flood Risk Management Project (P9.89 billion), Arterial Road Bypass Project- Phase III (P5.26 billion), Malolos-Clark Railway Project (P211.43 billion), co -financing of the commuter line of the PNR South Commuter and South Longhaul Project (P299.4 billion), Maritime Safety Capability Project II (P8.02 billion) and the Metro Manila Subway Project Phase I (P356.97 billion).
“Our focus on the transportation sector is part of the bigger mission to decongest Metro Manila, and bring development to the regions, which is embedded in our National Spatial Strategy,” said Socioeconomic Planning Secretary Ernesto Pernia.
In view of the latest estimate of the Japan International Cooperation Agency (JICA) that Metro Manila traffic is costing the economy P3.5 billion in lost opportunities daily, Pernia said there is an immediate need to ease traffic and congestion in the mega cities of the country.
“This estimated economic loss in daily traffic is massive, and we must act fast. We are looking at this problem in a comprehensive way. We recognize that transportation is the enabler and driver of socioeconomic development, that is why we have the National Transport Policy approved by the NEDA Board.” Pernia said.
Guided by this policy, the Inter-Agency Technical Committee on Transport Planning and the NEDA Board Cluster on Infrastructure will review plans, projects and programs for the long-term development of the transport sector, he added.
Through the new transport policy, NEDA envisions a “safe, secure, reliable, efficient, integrated, intermodal, affordable, cost-effective, environmentally sustainable, and people-oriented national transport system that ensures improved quality of life of the people.”
Read more at https://www.philstar.com/business/2018/03/04/1793203/infra-projects-lined-japan-oda#v5lf5erHqfv2rxDv.99