Signing and Exchange of Notes for the Metro Manila Subway Project Phase 1 (IV) and the Central Mindanao High Standard Highway Construction Project (Cagayan de Oro – Malaybalay Section) (Engineering Services)

On 27 March 2026, Ambassador ENDO Kazuya and Department of Foreign Affairs (DFA) Secretary Maria Theresa P. Lazaro signed the Exchange of Notes for the Metro Manila Subway Project (MMSP) Phase 1 (IV), with a loan limit of approximately 220 billion yen, and the Central Mindanao High Standard Highway Construction Project (Cagayan de Oro – Malaybalay Section) (Engineering Services), with a loan limit of approximately 1.672 billion yen. 

The MMSP aims to address increasing transportation demand, alleviate severe traffic congestion, and mitigate air pollution and climate change by developing a subway system in Metro Manila.
Meanwhile, the Central Mindanao High Standard Highway Construction Project involves the development of the Cagayan de Oro-Malaybalay section of the Central Mindanao High-Standard Highway, which connects Cagayan de Oro and Davao, two major cities on Mindanao. This cooperation is expected to strengthen and improve connectivity and accessibility between the two cities, contributing to the economic revitalization and social development of the Mindanao region. 


[Terms and Conditions] 
(1) Loan limit: 221.672 billion yen  
- Metro Manila Subway Project Phase 1 (IV) : 220 billion yen 
- Central Mindanao High Standard Highway Construction Project (Cagayan de Oro – Malaybalay Section) (Engineering Services) : 1.672 billion yen. 
(2) Interest rate: 0.8% per annum 
(3) Repayment period: 40 years (including a 10-year grace period). 
(4) Financing terms: Japan Tied. 


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Remarks of Ambassador ENDO Kazuya at the Signing of the Exchange of Notes for the Metro Manila Subway Project Phase 1 (IV) and Central Mindanao High Standard Highway Construction Project