THE Japanese government has committed to provide a multibillion-peso loan assistance to the P Japan to finance 7 major infrastructure projects hilippines to finance road, irrigation and agriculture projects, according to the National Economic and Development Authority (NEDA).

Rolando Tungpalan, NEDA deputy director-general for Investment Programming told reporters that the government of Japan has committed to support the Philippines by financing seven projects worth P46.88 billion. Of the total project cost, Japan International Cooperation Agency (JICA) would finance P35.21 billion with the Philippine government providing the counterpart of P11.39 billion.

The JICA pipeline yen loan projects include the P6.15 billion Malitubog-Maridagao Irrigation Project, Phase II; the P4.70 billion Mindanao Sustainable Settlement Area Development Project, Phase II; and the P4.29 billion National Irrigation Sector Rehabilitation and Improvement Project (NISRIP).

JICA will also finance the P5.41 billion Flood Risk Management Project for Cagayan River, Tagoloan River and Imus River; the P7.95 billion Pasig-Marikina River Channel Improvement Project Phase III; the P15.11 billion Central Luzon Link Expressway (CLEX) Phase I; and the P3.26 billion Arterial Road Bypass Project Phase II. JICA was the Philippines’ biggest donor last year, having a 36 percent share of total ODA commitments, with Manila among the largest recipients of the Japanese aid agency.

As of 2010, ODA loans from JICA reached $3.51 billion.