DoF taps JICA in crafting Subic masterplan
Credit to Author: Mayvelin U. Caraballo, TMT| Date: Tue, 24 Dec 2019 16:14:48 +0000
THE government has tapped the expertise of the Japan International Cooperation Agency (JICA) in updating the masterplan for the development of Subic Bay and its surrounding areas.
This is according to Finance Secretary Carlos Dominguez 3rd, who relayed this information through Sen. Juan Edgardo “Sonny” Angara during the recent plenary deliberations on the Department of Finance’s (DoF) proposed budget for 2020.
Angara, who leads the Senate’s finance committee, sponsored the department’s budget on the chamber’s floor.
“Mr. [Senate] President, I was informed by [Dominguez] that they are engaging JICA to update the Subic masterplan,” Angara was quoted as saying in response to Sen. Richard Gordon’s interpellation regarding the government’s plan to develop the former US naval base in his home province of Zambales.
Gordon was a former mayor of Olongapo City, which is adjacent to Subic. He is also the first administrator and chairman of the Subic Bay Metropolitan Authority.
This comes after the Philippine and Japanese governments signed on December 6 a memorandum of cooperation signifying Tokyo’s commitment to provide technical support to the Duterte administration’s formulation of a regional development masterplan designed to maximize the economic potentials of Subic Bay and nearby areas.
“The Philippine government may require cooperation from Japan, including Official Development Assistance (ODA) and other financial resources, for the implementation of the prioritized projects listed in the finalized master plan,” the memorandum said.
“Projects to be financed by Japanese ODA and other financial resources will be determined following a master plan survey and in light of both governments’ priorities,” it added.
The proposed masterplan would outline possible projects in the areas concerned in the fields of road network development, logistics terminal development, disaster risk management and other public utilities development.
According to the DoF, Japan first made known its commitment to provide assistance during the bilateral meeting between President Rodrigo Duterte and Japanese Prime Minister ShinzŌ Abe on the sidelines of the 35th Association of Southeast Asian Nations Summit and Related Summits in Bangkok on November 4.
The two leaders described the Japanese commitment of assistance “as a testament to the deepening strategic partnership between Japan and the Philippines,” it added.
Japan is still the top provider of ODA loans and grants to the Philippines, totaling $8.26 billion (46 percent share of the country’s total ODA loan portfolio) as of December 2018.
Ten loan agreements providing Japanese funding support for several big-ticket infrastructure projects under the government’s Build, Build, Build program have been signed between Manila and Tokyo since 2016.