The Philippines secured loans from the Government of Japan through Japan International Cooperation Agency (JICA) worth a combined P75.5 billion (about 154 billion Japanese yen) to fund the construction of two (2) additional priority projects under the government's "Build, Build, Build" program.
Finance Secretary Carlos Dominguez III and JICA Philippines Chief Representative Eigo Azukizawa signed on Tuesday, June 16, 2020 the P57 billion (JPY119 billion) Official Development Assistance to support the construction of the Cebu-Mactan Fourth Bridge and the Coastal Road Construction project in Central Visayas.
The supplemental financing of P18.5 billion (JPY35 billion) for the Davao City Bypass Construction Project was also included.
Also at the signing ceremony held at DoF Podium Conference Room were Japanese Ambassador to the Philippines Koji Haneda and Public Works (DPWH) Secretary Mark Villar, DPWH Undersecretary Emil K. Sadain, and DoF Undersecretary Mark Joven.
"These two projects are among the legacies that the 'Build Build Build' program would like to leave to every Filipino, in our quest to elevate their living condition through infrastructure development and economic growth," said Secretary Villar.
The two (2) projects will be implemented by DPWH through the Unified Project Management Office (UPMO) Operations headed by Undersecretary Emil K. Sadain.
The four (4)-lane, 45.5-kilometer Davao City Bypass Road starts from Davao-Digos section of the Pan-Philippine Highway in Brgy Sirawan, Davao City going to Davao-Panabo section of the Pan-Philippine Highway in Brgy J.P. Laurel, Panabo City.
"Upon completion, the project is expected to ease traffic situations and spur economic development in Mindanao," Villar added.
The Mactan-Cebu Bridge is a 3.3-kilometer bridge with an elevated viaduct of 3.385-kilometer with two lanes in each directions; and a 4.9-kilometer, four (4)-lane coastal road with a4.751 elevated viaduct.
The project will connect Mandaue City of Cebu Island and Lapu Lapu City of Mactan Island and connecting coastal road which will contribute to alleviate serious traffic congestion as well as economic and social development.