The Philippines secured over 377 billion yen ($2.9 billion) of loans from Japan to finance infrastructure spending, Philippine Daily Inquirer reported.
(Bloomberg) — The Philippines secured over 377 billion yen ($2.9 billion) of loans from Japan to finance infrastructure spending, Philippine Daily Inquirer reported.
Finance Secretary Benjamin Diokno, who was part of the delegation accompanying President Ferdinand Marcos in his visit to Japan this week, signed the loan agreements with the Japan International Cooperation Agency on Thursday, according to the report.
The funds will be used for the ongoing North-South Commuter Railway project, which connects the capital to nearby provinces, the Inquirer said.
Read: Philippines: 35 Investment Deals Signed at Marcos’s Japan Visit
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.