JAPAN International Cooperation Agency (Jica) and the Philippines’ Department of Finance (DOF) signed a loan agreement on March 3 worth Yen 21.6bn ($US 136.83m) for further renovation of Manila Metro Line MRT-3. It carries an annual interest rate of 0.8%, payable in 40 years with a 10-year grace period.
The loan will support ongoing maintenance and finance additional improvements, including upgrades to the power supply system, procurement of new bogie frames for the line’s train fleet, ballast replacement, station renovation works, and acquisition of depot and maintenance equipment. These measures aim to sustain the system’s improved performance and end the service disruptions experienced in recent years.
Jica has already invested around Yen 55bn in the Line MRT-3 renovation project with loans agreed in 2018 (Yen 38.1bn) and 2023 (Yen 17.4bn). The first phase of the renovation programme was completed in December 2021. Since then, additional finance has been directed to extend maintenance of the line and carry out infrastructure enhancements, including track replacement and rolling stock overhauls.
“This continued cooperation will help establish a sustainable, safe, and reliable operations and maintenance structure,” says Jica Philippines chief representative Takashi Baba.
For detailed information on metro projects across Asia, subscribe to IRJ Pro.
