Japan Mulls Aid for Philippine Mass Railway Project

The Philippines said it is expecting financial assistance from the Japanese government for the construction of a mass railway system connecting the country’s capital to a neighboring province.

Japan has agreed to support the construction of the 20-kilometer railway system connecting Manila to the northern province of Bulacan, the Manila Times reports.

“JBIC (Japan Bank for International Cooperation) has been informed and has acknowledged the project and is prepared to consider an export credit,” according to Glicerio Sicat, an official of the Philippine Department of Transportation and Communication.

Universal LRT Corp., which is in charge of the project, said it is also considering seeking financial assistance from the Asian Development Bank as well as from other foreign and local investors.

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  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.