Japan International Cooperation Agency Chief Representative Takema Sakamoto; Fellow workers in the government; ladies and gentlemen: Good afternoon.

First of all, I thank JICA for its unceasing support to the Philippines through the delivery of infrastructure projects that are safe, resilient, and responsive to the needs of the Filipino people.

Today, we are taking this strong partnership to greater heights with the signing of loan agreements for two big-ticket projects.

One is for the third tranche of financing for the country’s Project of the Century—the Metro Manila Subway—worth 150 billion yen or about 55 billion pesos.

Another is the first tranche of funding for one of the biggest infrastructure projects in Central and Northern Luzon—the Dalton Pass East Alignment Road—worth 100 billion yen or about 37 billion pesos.

We are very grateful for JICA’s generous provision of highly concessional financing for these projects under its Special Terms for Economic Partnership.

With JICA’s support, we have the privilege of utilizing state-of-the-art Japanese technologies, ensuring that our people’s hard-earned taxes are invested in world-class infrastructure projects.

Take, for example, the Metro Manila Subway. Japanese technologies such as innovative flood management and advanced seismic technology are incorporated into its design. These not only ensure efficiency but also guarantee sustainability for future generations.

Similarly, the Dalton Pass East Alignment Road leverages Japanese expertise in the excavation and construction of the 23-kilometer highway with twin mountain tunnels and 10 bridges.

This guarantees the resilience of tunnels and bridges linking Nueva Ecija and Nueva Vizcaya to the Cagayan Valley Region against natural disasters.

In doing so, we are providing safer transport for local communities and smoother distribution of agricultural goods, directly benefiting farmers in the agriculture-driven Cagayan Valley Region.

These strategic infrastructure investments underpin all our efforts to build an economy that is truly inclusive and beneficial to all Filipinos.

Infrastructure investments have the highest multiplier effect on the economy. As for every peso invested in new infrastructure, two pesos and thirty centavos are infused into the national economy.

This means the projects not only enhance mobility but also improve the lives of our people through the creation of more jobs and businesses.

They will be the engines driving economic growth and dispersing the fruits of modernization to every corner of the country.

I have full confidence that Transportation Secretary Jimmy Bautista and Public Works and Highways Secretary Manny Bonoan will ensure the timely completion of the projects so that Filipinos can fully enjoy their benefits as soon as possible.

On the DOF’s part, we stand ready to secure funding for all projects and support the implementing agencies to ensure their uninterrupted delivery.

We will also continue conducting site visits to make sure that the economic benefits of the projects are fully achieved and met.

And to JICA, we thank you once again for being a reliable partner in driving the Philippines’ progress through robust infrastructure development.

The projects are building blocks in our ascent to becoming an upper-middle-income country hopefully by 2025 and, eventually, the world’s 14th-largest economy by 2075.

Maraming maraming salamat po. Mabuhay kayong lahat.