By APD writerMelo M. Acuña

The Department of Foreign Affairs expressed its deep appreciation to the Government of Japan for its assurance of technical assistance in formulating a master plan for the regional development of the Subic Bay Freeport and its surrounding areas.

In a statement released today by the Department of Finance (DOF), it was learned the commitment was related to President Rodrigo Duterte by Japanese Prime Minister Shinzo Abe during their bilateral meeting last Monday, November 4 at the sidelines of the 35th Association of Southeast Asian nations (ASEAN) Summit and Related Summits in Bangkok, Thailand.

“The two leaders affirmed that the Japanese assistance is a testament to the deepening strategic partnership between Japan and the Philippines,” the DOF said.

The proposed master plan will outline possible projects in Subic Bay and immediate areas in road network development, logistics terminal development, disaster risk management and other public utilities development.

Ten (10) loan agreements providing Japanese funding support for several big-ticket infrastructure projects under the Duterte government’s “Build, Build, Build” program have been signed between Manila and Tokyo from 2016.

Japan has remained on top of countries providing Official Development Assistance (ODA) loans and grants to the Philippines amounting to US$8.26 billion which is 46 percent share of the country’s total ODA loan portfolio as of December 2018.

(ASIA PACIFIC DAILY)