ANNOUNCEMENT 27 Mar 2013
On March 27th, 2013, the Japanese International Cooperation Agency (JICA) signed an ODA loan agreement with the Philippines.
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JICA（２０１３）フィリピン共和国向け円借款契約の調印 「Signing of Japanese ODA Loan Agreement with the Republic of the Philippines」
On March 27th, 2013 a 54.034 billion yen ($572 million USD) loan agreement was signed with the Republic of the Philippines and the Japanese International Cooperation Agency (JICA) for two infrastructure projects.
The first project concerns the mass transit system in Metro Manila. This loan will be part of the Japanese International Cooperation Agency's STEP program which implies that the loan will go towards providing the Philippines with advanced Japanese technology, such as highly efficient inverters, and rolling stock.
The second project JICA's STEP program will also support is the construction of a new airport in the Bohol province of the Philippines. By utilizing the STEP program JICA will assist in the construction of the project as well as providing advanced Japanese technology, including a photovoltaic power generation system and geotextile sheets.