AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
On November 27th, 2015, a 241.991 billion yen ($1.96 billion USD) loan agreement was signed with the Republic of the Philippines and the Japanese International Cooperation Agency (JICA) for the use of Japanese technology and urban planning models to construct a landmark commuter railway system connecting Metro Manila to outlying areas. This loan will be part of the Japanese International Cooperation Agency's STEP program which implies that the loan will go towards providing Japanese-sourced civil works, consulting services, elevated railway tracks, station buildings, a depot, as well as the procurement of electrical and mechanical systems and rolling stock.
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