Japan to extend loan to LRT project
MANILA, Philippines - Japanese Foreign Minister Fumio Kishida announced yesterday that the government of Japan would extend loans to the Philippines to fund the Light Rail Transit (LRT) 1&2 extension project and the construction of a new airport in Bohol.
“I conveyed Japanese government’s decision to extend yen loans to 2 projects,†Kishida said after meeting Foreign Affairs Secretary Albert F. del Rosario.
The National Economic and Development Authority (NEDA) board formally approved last year the Light Rail Transit Line 2 East Extension to Masinag project, Bohol airport project and the purchase of 52 new cars for the Metro Rail Transit (MRT).
The Department of Transportation and Communications (DOTC) said the bidding for the P60 billion extension of the LRT line 1 from Baclaran in Pasay City to Bacoor in Cavite would push through as scheduled in January.
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