en.Wedoany.com Report, On March 3, the Japan International Cooperation Agency signed a loan agreement with the Philippine government to provide up to 157 million euros (21.6 billion yen) for the Manila Metro Line 3 rehabilitation project. The loan agreement for this metro rehabilitation project was finalized by Philippine Secretary of Finance Frederick D. Go and JICA Philippines Chief Representative Takashi Baba. The loan carries an annual interest rate of 0.80%, a repayment period of 40 years, including a 10-year grace period.

This metro rehabilitation project covers the full 17-kilometer MRT3 line with its 13 stations for comprehensive rehabilitation and ongoing maintenance. The line serves nearly 388,000 passengers daily, and the metro rehabilitation work aims to alleviate Manila's chronic traffic congestion. Procurement for key project components, including the CP1 package for rehabilitation and maintenance, commenced in December 2018. The entire metro rehabilitation project is scheduled for completion in October 2027. The specific contractor for the CP1 package was not disclosed in the agreement announcement.

This metro rehabilitation project loan continues the long-standing pattern of Japanese Official Development Assistance for Philippine infrastructure, including the larger-scale Manila Metro project, which is also primarily funded by JICA. Through targeted financing, JICA exports its railway technology and maintenance expertise, strengthening bilateral relations. The favorable loan terms for this metro rehabilitation project reflect the characteristics of JICA's strategic infrastructure financing, aimed at promoting Philippine economic development.