The Philippines is preparing to sign 11 new projects with Japan worth ¥371.31 billion or about $2.41 billion for implementation from April 2026 to March 2027 under Japan Fiscal Year 2026, Department of Finance Secretary Frederick Go said Thursday.
The projects demonstrate sustained momentum in Philippines-Japan development cooperation and continued alignment between the infrastructure priorities of Manila and the financing support of Tokyo.
Go presented the pipeline during a joint meeting of the Philippine-Japan Research Council and the Japan-Philippines Economic Committee.
“All these figures speak volumes. They reflect trust in the Philippines’ economic direction, confidence in our institutions, and a shared belief in long-term partnership. This is good news. It reflects sustained growth, macroeconomic stability, and structural reforms,” Go said.
The JFY 2026 pipeline follows three loan agreements targeted for signing before the close of Japan’s Fiscal Year 2025 in March 2026. Those agreements have a combined value of ¥243.31 billion or about $1.58 billion to be extended by the Japan International Cooperation Agency.
Among the flagship undertakings supported by Japanese financing is the ¥220-billion Metro Manila Subway. The country’s first underground railway system is expected to transform urban mobility, reduce congestion costs and unlock economic potential across the capital region.
Other key projects include the ¥1.67-billion Central Mindanao Highway, designed to connect communities and strengthen agricultural logistics, and the ¥21.63-billion Metro Rail Transit Line 3 rehabilitation project signed recently.
Total loan and grant commitments from Japan reached about $13.96 billion as of December 2025. This accounts for 33.54 percent of the total ODA portfolio of the country, making Japan the largest loan provider and third largest grant provider for the Philippines.
Since the start of the current administration, 12 loan agreements totaling 910.38 billion yen or roughly $5.92 billion have been signed. Go said these projects are now moving from commitment to implementation.
The figures represent continued trust in the economic direction of the Philippines, which continues to grow faster than the global average.
“I would like to assure everybody that the long term fundamentals of the Philippine economy remains intact and on solid footing – strong GDP growth, manageable inflation, a robust labor market and prudent fiscal management,” Go said.
