Ambassador Haneda Signs Yen Loan for MRT-3 Rehabilitation Project
Japan Information and Culture Center (JICC) - Press Release No.60 - 2018
On November 7, Japanese Ambassador Koji Haneda and Foreign Affairs Secretary Teodoro L. Locsin signed and exchanged notes concerning the yen loan (with provision of up to 38 billion yen) for the Metro Rail Transit Line 3 (MRT-3) Rehabilitation Project.
MRT-3, an elevated railway along EDSA, one of the busiest trunk roads in Metro Manila, currently suffers from deteriorating track and trains caused by poor maintenance, resulting in the decline of its transport capacity and increased frequency of operation troubles. With this project, the line is to be rehabilitated drastically to improve its safety, comfort and speed utilizing Japanese knowledge and technology.
In Metro Manila, chronic traffic congestion puts much stress on people and causes huge economic loss. Realized by the strong request of the Philippine government, the project is expected to improve the convenience of general public, promote the use of public transportation and consequently contribute to the country’s sustainable economic development and the mitigation of environmental impact.