Japan has assured the Philippines about US$2 billion in soft loans to improve the Philippines’ crumbling railway system, a biggest ever support for the Filipino project. The amount is about 240 billion-yen or 88 billion pesos in the Philippine Currency, it’s a clear indication of continued better cooperation between the former Second World War foes which includes closer security cooperation.
Both countries already discussed “closed security cooperation” including the speeding up of deliberations for the compliance on the transfer of defense equipment and technology, and continue strengthen to work together on maritime security.
The low-interest loans will be used to finance a planned 36.7 kilometer important traveler railway to connect Manila with Malolos City (Bulacan) to the north.
The Philippines’ over loaded public transport system the capital and surrounding areas scrambled by huge traffic jams.
