NEWS

By Joyce Ann L. Rocamora | Philippine News Agency | July 28, 2021 11:02 pm

Credit: NEWS.BITCOIN.COM

MANILA – The Philippine and Japanese governments on Wednesday reaffirmed their commitment to continuing close coordination for the “fast and sure” implementation of their bilateral cooperation projects.

The joint reiteration was made during the 11th meeting of the Japan-Philippines High-Level Joint Committee on Infrastructure Development and Economic Cooperation chaired by Special Advisor to the Japanese Prime Minister Dr. Hiroto Izumi, Finance Secretary Carlos Dominguez, and Secretary of Socioeconomic Planning Karl Chua.

Both sides recognized the significant strides achieved in ongoing joint infrastructure projects and pandemic-response cooperation measures, including the Metro Manila Subway rolling stock contract signing, LRT-2 extension, Parañaque Spillway Flood Control Feasibility Study, Covid-19 Crisis Response Emergency Support Loan, Post-Disaster Standby Loan Phase 2, donation of AstraZeneca vaccines, and the signing of a Japanese grant for cold chain facility development in the country.

Izumi and the Philippine delegation then welcomed the fulfillment in less than five years Japan’s 2017 commitment of JPY1 trillion public and private financing to the Philippines, with the signing of JPY253 billion loan for the Metro Manila Subway Project on Tuesday.

“This momentous milestone is in time for the celebration of the 65th anniversary of the normalization of diplomatic relations and the 10th anniversary of the strategic partnership between Japan and the Philippines this year,” the Japanese Embassy in Manila said in a statement.

The High-Level Joint Committee Meeting has been held biannually since the start of the Duterte administration, serving as an avenue for both countries to take stock of the progress made in accordance with the “Joint Statement on Bilateral Cooperation for the Next Five Years” issued in October 2017.

Source: Philippine News Agency