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Philippines, Japan officials meet on proposed projects
« on: April 01, 2017, 08:51:52 AM »
PHL, Japan officials meet on proposed projects
TOKYO - Philippine and Japanese officials have pledged here to work closely on possible projects for cooperation on infrastructure development.

In the first meeting of the Philippines-Japan Joint Committee on Infrastructure Development and Economic Cooperation held here this week, the Philippine side presented its priority projects for possible implementation with Japan Official Development Assistance (ODA) financing and support, and the Japanese side acknowledged the list based on the Prime Minister’s commitment to provide JPY1 Trillion (about USD 9 billion) financing package to the Philippines. The priority list covers projects in railway; irrigation; and public works projects covering road and flood management.

Additional projects in the areas of public works, energy, and industrial zone development were also submitted as candidates for Japan ODA financing.

Based on the discussion, the Japanese side will review the projects for bilateral cooperation.

The first meeting of the Joint Committee took place at Kantei, the Prime Minister's Office. The Philippine side was headed by the Department of Finance (DOF) Secretary Carlos Dominguez III, while the Japanese side was led by Dr. Hiroto Izumi, the special advisor to Japan Prime Minister Shinzo Abe.

This joint panel's formation was announced during Prime Minister Abe’s visit last January to the Philippines, where he announced the Japanese government’s commitment of one trillion yen in development assistance and investments to the Philippines within the next five years.

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