JAPANESE Ambassador to Manila Endo Kazuya and Foreign Affairs Secretary Maria Theresa Lazaro signed and exchanged notes for the 21.6 billion yen loan or over P8.1 billion for the Metro Rail Transit (MRT) Line 3 Rehabilitation Project III.
The Japanese Embassy on Wednesday said the loan carries an interest rate of 0.8 percent per annum. The repayment period will be 40 years, including a 10-year grace period.
The embassy said the loan will help the Philippine government to refurbish the MRT Line 3.
Lazaro said this second supplemental loan builds on the strong foundation of the cooperation with Japan in the rehabilitation of MRT-3.
She said that in Metro Manila, the MRT-3 line plays a critical role in the daily lives of commuters. In 2025, its ridership reached 141 million, the highest in eight years.
“The continued rehabilitation of this vital transport system is therefore not merely an infrastructure project, but a direct investment in the productivity, safety, and quality of life of our people,” Lazaro said.
Tokyo’s continued support, through the Japan International Cooperation Agency, demonstrates Japan’s long-standing partnership with the Philippines in advancing infrastructure development, she added.
Kazuya said for many years, Japan’s Official Development Assistance has been a “steady partner in the Philippines’ journey toward sustainable development.” “One area where this partnership truly made and will continue to make a difference is public transportation,” the envoy said. “The concessional loan that we formally agreed today will allow for the continued rehabilitation and maintenance of this key railway infrastructure. Today’s Exchange of Notes reflects the trust and cooperation between our two countries and strengthens our confidence as we move forward together.” Kazuya said reliable transport is not only essential to economic growth, but also for improving the daily lives of ordinary citizens.
