$8.8 Billion will be committed by the Japanese Government in financing three rail projects among 11 other infrastructure projects confirmed by Socioeconomic Planning on connecting FTI in taguig City to SM March 30.
The National Economic and Development Authority said that the Japanese give priority to the three biggest proposed projects namely the $4.3 billion Mega Metro Manila subway system connecting FTI in taguig City to the SM North Edsa and Trinoma Malls in Quezon City; a $2.7 billion commuter line extending the line of the North-South railway to Los Banos, Laguna and a $1.9 billion high speed rail to the soon-to-rise Clark Green City connecting to Tutuban in Manila and Malolos, Bulacan.
NEDA Chief, Ernesto Pernia said that most of the projects to be funded by Japan were to deliberately disperse development away from the metropolitan center because of its congestion. He added that the other 11 projects included proposals on irrigation and flood control outside the capital region.
The initial phase of the subway would be completed by September and the commuter rail in Los Banos and Clark will be completed April next year.