Signing of a Japanese loan for a suburban railway project
Finance Secretary Carlos Dominguez and Asian Development Bank President Asakawa Masatsugu (standing left and right) hold the signed loan agreement in the presence of President Rodrigo Duterte (center). ADB PHOTO
Japanese Ambassador Koshikawa Kazuhiko attended the signing ceremony between Finance Secretary Carlos Dominguez and Asian Development Bank (ADB) President Asakawa Masatsugu for the Southern Extension of the North-South Commuter Railway (NSCR ) on June 16. The ceremony took place in the presence of President Rodrigo Duterte at the Malacañang Palace.
Ambassador Koshikawa said, “We welcome the signing today of the extension of the NSCR between the Ministry of Finance and the AfDB. This project is a symbolic collaboration project between the Japanese government, the Philippine government and the AfDB to provide efficient mass transportation for the benefit of many Filipinos. This first Airport bound high-speed railway in the Philippines is expected to improve the functionality of Clark International Airport as well as enhance connectivity and travel convenience for people living in the surrounding areas of the region. Metro Manila.
The Ambassador also assured that Japan will continue to support the NSCR expansion project to the maximum of its capacity until its completion, especially in the purchase of rolling stock and the development of the railway system, thanks to the help Public Development of the Japan International Cooperation Agency.
The NSCR expansion project is one of the major infrastructure projects supported by Japan under the Philippine government’s Build, Build, Build program. This will cut the travel time between Clark International Airport and Metro Manila from the current two to three hours to just about an hour, and cut the travel time between Metro Manila and Calamba, Laguna d ‘about two hours to less than an hour.