Illustrative image (Source: Tankler.com) Japan has pledged to provide a 2 billion USD loan to the Philippines in order to upgrade the national railway system, according to a statement released by the Philippines’ Foreign Ministry on August 6.
The loan - the largest single amount of financial assistance provided by Japan to the South East nation so far - will be used to finance a 36.7km elevated commuter railway linking Manila with Malolos City in the north.
The commitment was made during a meeting between Foreign Secretary Albert del Rosario and Japanese State Minister for Foreign Affairs Minoru Kiuchi on the sidelines of a foreign ministerial meeting in Malaysia on August 5, according to the statement.
The spokesman of the President of the Philippines Herminio Coloma said the loan highlighted the sound bilateral relations between the Philippines and Japan. He said the two countries should consider cooperation on maritime security.
Japan is currently the Philippines’ top source of official aid.-VNA
