Foreign Affairs Secretary Teodoro Locsin Jr. and Japanese Ambassador to Manila Koji Haneda have signed and exchanged notes involving around P73.54 billion worth of Tokyo-backed infrastructure, agricultural support, and human resource development projects.
Foreign Affairs Secretary Teodoro Locsin Jr. and Japanese Ambassador to Manila Koji Haneda have signed and exchanged notes involving around P73.54 billion worth of Tokyo-backed infrastructure, agricultural support, and human resource development projects.
According to a media handout released by the Japanese Embassy in Manila on Monday, Locsin and Haneda signed the loan projects for the Cebu-Mactan Bridge (4th bridge) and the Coastal Road Construction Project, and the Davao City Bypass Construction Project with a combined worth of JY154 billion (approximately Php73 billion).
The two infrastructure projects seek to tackle connectivity and traffic congestion concerns confronting the rapidly developing metropolitan areas of Cebu and Davao. The 4th Cebu-Mactan Bridge aims to improve the capacity of the existing road network in Cebu and facilitate faster movement of people, goods, and services by providing an alternative route connecting central Cebu to Mactan Economic Zone where many export-oriented industries are located.
See full article at Manila Bulletin
