By Beatriz Marie D. Cruz, Reporter
THE PHILIPPINE government is trying to sign 11 additional loan agreements valued at ¥371 billion (around P139 billion) in a bid to fast-track infrastructure projects after a corruption scandal slowed public spending, the Department of Finance (DoF) said.
“We’re targeting, this 2026, the signing of 11 additional loan agreements with a complete estimated value of ¥371 billion or roughly $2.4 billion,” Finance Secretary Frederick D. Go said throughout the forty second PHILJEC–JPECC Joint Meeting late Thursday.
“This reflects the continued alignment between our infrastructure priorities and Japan’s support,” he said.
The federal government can also be trying to the sign three loan agreements with the Japan International Cooperation Agency (JICA), proceeds of which is able to fund key projects just like the Metro Manila Subway and the Central Mindanao Highway, Mr. Go said.
“Japan’s fiscal yr 2025 concludes this March. The Philippines looks forward to the signing of three critical loan agreements with a complete value of roughly $1.58 billion (around P91.2 billion) to be prolonged by JICA,” he noted.
Earlier this month, the 2 countries signed the exchange of notes for a ¥21.6-billion (P8.1-billion) loan deal for the continued rehabilitation of the Metro Rail Transit (MRT)-Line 3.
Because the start of the Marcos administration, the Philippines and Japan have signed 12 financing deals value ¥910.38 billion (about P341.2 billion).
A lot of these projects are in its financing or construction stages, the DoF said.
“Each project reflects Japan’s status for quality infrastructure—durable, efficient, and future-ready. And every project reflects the Philippines’ determination to construct higher, faster, and smarter,” Mr Go said.
As of December last yr, Japan accounted for $13.9 billion or 33.54% of the Philippines’ total official development assistance (ODA) portfolio.
Japan is the Philippines’ largest ODA loan provider and third-largest source of ODA grants.
The federal government can also be trying to update the Japan-Philippines Economic Partnership Agreement (JPEPA), Mr. Go said.
The JPEPA, which took effect in December 2008, is the Philippines’ first bilateral free trade agreement (FTA).
The deal covers trade goods, rules of origin, customs procedures, investment, movement of natural individuals, mental property, and government procurement.
Trade Secretary Ma. Cristina A. Roque earlier said she is trying to meet together with her Japanese counterpart inside the first quarter to debate the JPEPA.
Japan was the Philippines’ third-largest export market and fourth-largest source of imports in 2025.
Mr. Go also noted that the country’s long-term economic fundamentals remain strong despite the weak economic growth recorded last yr.
Gross domestic product (GDP) growth slowed to five-year low of 4.4% in 2025 after a corruption scandal weighed on public spending.
Despite this, the Finance chief noted that Philippine GDP growth is well-above the worldwide growth average of two.9%.
“In case you have a look at our long-term growth trends, we are going to return as much as the 5% plus this yr,” he said.
To draw more investors, Mr. Go said the federal government is implementing reforms to enhance the benefit of doing business, boost public-private partnerships, and create a predictable and competitive investment environment.