Japan International Cooperation Agency (JICA) and the Department of Finance in the Philippines have signed the 2nd tranche of an ODA loan agreement for phase 1 of the Metro Manila Subway project.

For the 2nd tranche, JICA will provide an additional JPY253 billion (US$2.18 billion), following the loan of JPY104.53 billion (US$904 million) in the 1st tranche of project funding. This loan will finance the development of a 25.3-kilometer long subway line with 17 stations connecting North and South of Metropolitan Manila. The line will connect Mindanao Avenue in Valenzuela City, FTI in Taguig City and Ninoy Aquino International Airport in Paranaque City.