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MANILA - Japan and the Philippines on Thursday signed the 253.3-billion-yen (PHP112.1 billion) loan agreement for the Metro Manila Subway Project Phase 1. The Japanese Embassy in Manila said this second tranche of official development assistance loan follows Tokyo's first tranche funding of 104.53 billion yen, which was signed in March 2018. The agreement was inked by Finance Secretary Carlos Dominguez III and Japan International Cooperation Agency (JICA) Philippines Representative Azukisawa Eigo in a ceremony also attended by Japanese Ambassador Koshikawa Kazuhiko. "The Metro Manila Subway was first planned in the 1970s, but it remained a plan for about half a century. Through the strong push and determination of the Duterte administration, this 'project of the century' is now steadily progressing. I am pleased that our tunnel boring machine will soon start excavating under the Metro Manila area in the 2nd quarter of this year," Koshikawa said Thursday. The envoy

Ninoy aquino international airportMetro manilaPhilippines generalKoshikawa kazuhikoAzukisawa eigoJapan international cooperation agencyJapanese embassyMetro manila subway project phaseFinance secretary carlos dominguezPhilippines representative azukisawa eigoJapanese ambassador koshikawaMetro manila subwayQuezon cityManila japan and the philippines on thursday signed 253 3 billion yen php112 1 loan agreement for metro subway project phase japanese embassy in said this second tranche of official development assistance follows tokyo 39s first funding 104 53Hich was signed in march 2018 the agreement inked by finance secretary carlos dominguez iii and japan international cooperation agency jica philippines representative azukisawa eigo ina ceremony also attended japanese ambassador koshikawa kazuhiko quot metro manila subway first planned 1970sUt it remaineda plan for about halfa century through the strong push and determination of duterte administration