Japan to lend 167 bil yen ($1.5 bil) for Philippines north-south railway extension
MANILA, NNA - The Japanese and Philippine governments signed an agreement Wednesday on a soft loan from Japan of up to 167.2 billion yen ($1.5 billion) for a railway extension project in greater Manila to help ease traffic.
This is the third yen loan made to build or improve railways in the metropolitan area. The three loans total a maximum 310 billion yen. The 107-kilometer extension of the commuter railway is scheduled to complete in 2023.