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National Gov’t debt hits P11.6 trillion at end of August

BW FILE PHOTO

THE National Government’s outstanding debt rose to P11.64 trillion at the end of August, with the new lockdown compelling the government to borrow more from the debt market, the Bureau of the Treasury (BTr) said Thursday.

According to preliminary BTr data, the end-August debt level was up 0.28% from a month earlier. It was up 21% from a year earlier.

Since the start of the year, government debt rose 18.9% from the end of 2020. The government added P1.85 trillion in debt over the first eight months.

The debt consisted of 70.6% in domestic borrowing and 29.4% borrowed overseas.

Domestic debt at the end of August rose 1.2% from the end of July to P8.22 trillion. Year on year, the domestic debt stock grew 22.5%.

The BTr increased its borrowing last month, bringing outstanding government securities up 1.3% at P7.68 trillion.

The government also has P540 billion from the central bank, which it borrowed last year to help fund its pandemic response.

External debt fell 2% at the end of August to P3.422 trillion compared to its level at the end of July following the repayment of foreign loans worth P34.22 billion.

“The impact of both local- and third-currency fluctuations against the dollar further lowered the peso value of external obligations by P32.04 billion and P2.39 billion, respectively,” the Treasury said.

Foreign debt at the end of August rose 18% from a year earlier. It has grown 10.4% since the start of the year.

Foreign debt consisted of P1.47 trillion in loans and P2.02 trillion in government securities. The latter included P1.5 trillion in dollar notes, P241 billion in euro bonds, P138 billion in yen paper, P19 billion in yuan notes and P85 billion in peso global bonds.

The government’s overall guaranteed obligations fell 2.7% from a month earlier to P432.2 billion after it repaid P9.9 billion worth of domestic and foreign guarantees last month.

“The impact of local- and third-currency exchange rate fluctuations against the dollar further reduced external guarantees by P1.85 billion and P340 million, respectively,” the Treasury said.

Increased borrowing last month was attributed to the government’s heightened spending needs after Metro Manila and other provinces reverted to stricter lockdown measures for two weeks in August, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a note Thursday.

The government handed out P15 billion in emergency cash aid to residents of areas under strict quarantine.

Mr. Ricafort said the recent policy shift to granular lockdowns starting September could help the economy reopen and increase tax collections, which could ease the need for borrowing.

“However, this could be offset by the risk of relatively slower economic recovery from lockdowns… and any delays in the COVID-19 vaccine arrivals… (as this could) lead to relatively wider budget deficits that entail more government borrowing,” he said. — Beatrice M. Laforga

ADB, partner institutions to finance sustainable infrastructure

BW FILE PHOTO

THE Asian Development Bank (ADB) said it has teamed up with other institutions to set up a debt financing facility supporting sustainable infrastructure projects in Asia, beginning with Southeast Asia.

In a statement Thursday, the bank said it partnered with HSBC Holdings, Singapore investment firm Temasek and Clifford Capital Holdings to establish the new platform that will provide concessional capital.

“The initiative aims to bridge the financing gap by helping countries develop bankable sustainable infrastructure projects based on global standards,” the ADB said.

ADB Vice-President Ahmed M. Saeed said the bank will extend technical assistance in project development and sector reforms, while working with its partners to promote the use of blended finance and other risk mitigation solutions to mobilize resources.

HSBC and Temasek will provide equity with a combined investment of up to $150 million in the initial stage, Reuters reported, while Clifford Capital Holdings will join the ADB as a strategic partner for the program.

The ADB said the facility will first focus on clean transport, renewable energy and energy storage, and water and waste management infrastructure projects, before it explores other areas like climate adaptation, agriculture and land use, and technology-led solutions.

Developing Asia needs to invest $26 trillion or $1.7 trillion each year between 2016 and 2030 to sustain high economic growth, end poverty and address climate change. Southeast Asia remains one of the most exposed regions to climate change.

It said the private sector could help plug the funding gap but 65% of infrastructure projects in the region are not considered bankable, while large upfront costs and long project preparation times are needed before these can be considered viable by creditors.

“Marginally bankable projects typically face a range of barriers to accessing private sector finance. These may include a variety of capability, policy and economic issues which can impact a project’s ability to attract commercial financing,” it said. — Beatrice M. Laforga

Golden Rice expected to be competitively priced

IRRI

GOLDEN RICE is expected to be competitively priced when it becomes available on the market, according to an official from the Philippine Rice Research Institute (PhilRice).

Reynante L. Ordonio, PhilRice Healthier Rice project lead, said in a virtual briefing Thursday that Golden Rice can be grown the same way as other rice varieties.

On July 21, the Bureau of Plant Industry issued the permit for the commercial propagation of genetically modified Golden Rice, which aims to address Vitamin A deficiencies.

“In terms of price, we are expecting that Golden Price will be competitive since it is an inbred variety. This means that Golden Rice seed can be used again for the next planting season,” Mr. Ordonio said.

According to Mr. Ordonio, Golden Rice seeds will be available in selected areas by 2022, expanding to other provinces by 2023.

Initial provinces to receive Golden Rice include Catanduanes, Qurino, Samar, Antique, Lanao del Norte, Agusan del Sur, and Maguindanao.

“Commercialization of Golden Rice is expected by 2024,” Mr. Ordonio said.

On Thursday, the Department of Agriculture (DA) inaugurated the P272-million crop biotechnology center in Science City of Muñoz, Nueva Ecija alongside the official launch of Golden Rice.

Agriculture Secretary William D. Dar said during the launch that more consumers and farmers will accept Golden Rice as long as the government continues its extension work and information campaigns.

“As Golden Rice can now be commercially planted in the Philippines, we aim to complement current interventions to address malnutrition among children and pregnant women due to Vitamin A deficiency,” Mr. Dar said.

The DA said the crop biotechnology center will focus on improving the performance, yield, and quality of commodities such as rice, corn, and coconut. It will also help in the development of high-value crops such as mango, garlic, onion, tomato, cotton, cacao, banana, and abaca. The center is funded by the US Public Law 480 program.

“The CBC aims to advance biotechnology research for development and innovation, and generate various products that will enhance the competitiveness of Philippine agriculture, and push for food security and climate change resiliency,” the DA said. — Revin Mikhael D. Ochave

Local stocks rise on hopes of gradual reopening

REUTERS

SHARES closed higher on Thursday, shrugging off data showing the increase in the number of unemployed Filipinos, on hopes that more sectors could reopen or expand their operations this month.

The benchmark Philippine Stock Exchange index (PSEi) rose 18.77 points or 0.27% on Thursday to close at 6,952.88, while the broader all shares index went up by 28.83 points or 0.67% to finish at 4,325.84.

“Market is looking forward to a likely gradual business reopening this month (even under the extended lockdown), which could make supply chain-related inflation transitory and lift consumption spending as well toward yearend,” First Metro Investment Corp. Head of Research Cristina S. Ulang said in a Viber message.

The government was expected to announce new restrictions for Metro Manila yesterday.

“The main index continues to hover right below the 7,000 key level, which is the inflection point for its movement in the long term,” AAA Southeast Equities, Inc. Research Head Christopher John Mangun said in an e-mail.

“Investors shrugged off the higher unemployment rate in August since we think that, this has already been priced in by the investors,” Claire T. Alviar, senior research and engagement officer at Philstocks Financial, Inc., said in a separate Viber message.

The country’s unemployment rate rose to 8.1% in August from the 6.9% in July, the Philippine Statistics Authority’s labor force survey showed. This was the highest jobless print in four months and translates to some 3.882 million unemployed Filipinos in August from 3.073 million in July.

Majority of sectoral indices ended higher on Thursday except for property, which lost 24.14 points or 0.79% to 3,024.21, and financials, which declined by 6.70 points or 0.47% to end at 1,404.49.

Meanwhile, industrials climbed 219.53 points or 2.18% to 10,256; mining and oil gained 196.02 points or 2.15% to close at 9,281.90; services went up by 18.18 points or 0.94% to 1,935.38; and holding firms rose 12.13 points or 0.17% to finish at 6,963.05.

Value turnover amounted to P9.88 billion on Thursday with 1.54 billion issues traded, inching down from the P9.88 billion with 1.99 billion shares seen on Wednesday.

Advancers beat decliners, 115 against 78, while 51 issues remain unchanged. Net foreign selling plunged to P346.7 million on Thursday from the P1.47 billion seen on Wednesday.

“Investors are deciding to be more optimistic which is resulting in higher valuations despite the sluggish pace of recovery in the fundamentals of most companies. Investors are also counting on a much stronger [fourth quarter], which also gives a lot of consideration to the beginning of the campaign season for the 2022 national elections,” AAA Southeast Equities’ Mr. Mangun said.

“We expect to see the PSEi to move in a sideways trend channel as investors and fund managers perceive current price ranges to be fairly valued considering the current internal and external risks,” he added. — Keren Concepcion G. Valmonte

Peso returns to P51:$1 level on hawkish signals from Fed official 

BW FILE PHOTO

THE PESO retreated versus the greenback on Thursday following hawkish signals from a key US central bank official. 

The local unit closed at P51 per dollar on Thursday, shedding 13.5 centavos from its P50.865 finish on Wednesday, based on data from the Bankers Association of the Philippines. 

The peso also closed at P51 per dollar on Monday and Tuesday, its weakest point in more than a year or since it ended at P51.07 on March 26, 2020. 

The local unit opened Thursday’s session stronger at P50.85 per dollar. Its weakest showing was its closing level, while its intraday best was at P50.79 versus the greenback. 

Dollars exchanged inched down to $1.104 billion on Thursday from $1.106 billion on Wednesday. 

The peso weakened due to concerns on the US Federal Reserve’s plan to cut its asset purchases following recent statements from a key official, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said. 

Reuters reported that Philadelphia Fed Bank President Patrick T. Harker said it will soon be time to trim the bond purchases that have supported the markets at the onset of the pandemic. 

“I am in the camp that believes it will soon be time to begin slowly and methodically — frankly, boringly — tapering our $120 billion in monthly purchases of Treasury bills and mortgage-backed securities,” Mr. Harker said in a virtual event on Wednesday. 

Mr. Harker also said that the Fed could look into raising interest rates starting late 2022 or early 2023, depending on the economy’s situation. 

Meanwhile, a trader said the contraction in China’s manufacturing activity also affected peso-dollar trading. 

Data from China’s National Bureau of Statistics showed the official manufacturing Purchasing Manager’s Index (PMI) was at 49.6 in September versus 50.1 in August. This marked the first time since February 2020 that the reading fell below the 50-mark which separates expansion from contraction. 

The decline in factory activity was attributed to wider curbs on electricity use and elevated input prices. 

For Friday, Mr. Ricafort gave a forecast range of P50.85 to P51.05 per dollar, while the trader expects the local unit to move within P50.80 to P51.10. — L.W.T. Noble with Reuters 

PHL pork output seen flat at 1 million MT next year — USDA

PHILSTAR FILE PHOTO

PHILIPPINE PORK production in 2022 is expected to be flat at 1 million metric tons (MT), with the hog industry still recovering from the African Swine Fever (ASF) outbreak, according to the United States Department of Agriculture (USDA).

In a report, the USDA’s Foreign Agricultural Service said the estimate is in terms of carcass weight equivalent (CWE).

“Industry contacts report prospects remain uncertain amid continuing cases (of ASF) across the country,” the USDA post in Manila said.

“Post maintains 2021 production at 1.0 million MT, as the recent ASF outbreaks in Cagayan Province and Ilocos Norte are offset by active repopulation efforts of a few commercial pig farms in Tarlac. Some ASF-free areas in Mindanao and the Visayas have also increased their production,” it added.

It does not expect a recovery until 2024, adding that prospects remain “uncertain” due to ongoing outbreaks.

“While some commercial farms have started to repopulate to maintain their business, producers have generally remained cautious absent a commercially-available vaccine,” it said.

The USDA estimated that pork imports for 2021 of 500,000 MT, upgrading its previous estimate of 425,000 MT after incorporating recent trade data.

However, it said import volume will fall to 375,000 MT in 2022 with the “scheduled expiration of additional pork minimum access volume (MAV) and reversion of pork tariffs to the previous higher rates by the first half of 2022.”

The USDA said it projects per-capita consumption of pork in 2021 at 13.5 kilograms (kg) due to increased market access.

However, it estimated per-capita consumption for 2022 to drop to 12.2 kg with the planned end of the expanded MAV volume and lower tariffs on pork imports.

The USDA said chicken meat production is expected to increase 2% to 1.36 million MT in 2022 on the back of “improving economic conditions,” while the 2021 output was maintained at 1.33 million MT.

It added that chicken meat imports for 2022 are estimated at 400,000 MT, down 5% from the revised USDA 2021 projection of 420,000 MT.

“Post revises 2021 imports up 70,000 MT to 420,000 MT to reflect strong trade to date. Chicken exports to the Philippines through July 2021 are 36% higher than 2020, with North American and Brazilian poultry showing robust growth,” it said.

“Post sees chicken per capita consumption slightly declining in 2022 to 15.6 kg, as moderately higher consumption does not match population growth. For 2021, chicken per capita consumption is estimated at 15.8 kg,” it added.

It projected Philippine carabeef and beef production in 2022 at 190,000 MT, reflecting the higher average weights of cattle in response to demand. Its projection for 2021 is 180,000 MT.

“Post expects production to slow down in the second half of next year, reverting closer to average production growth levels,” the USDA said.

It said beef imports for 2022 will total 230,000 MT, while imports for 2021 are estimated at 225,000 MT.

“Traders expect a muted remainder of the year, however, due to the Philippine temporary ban on Brazilian beef imports following an atypical case of Bovine Spongiform Encephalopathy,” the USDA said.

“Post forecasts 2022 beef consumption at 404,000 MT, rising 3.7% from 2021, at 225,000 MT, as consumers continue purchasing beef amidst the ASF situation affecting pork prices,” it added. — Revin Mikhael D. Ochave

House resolution calls for investigation into vegetable smuggling

PHILSTAR FILE PHOTO

HOUSE LEGISLATORS have called for an investigation into smuggled Chinese vegetables being distributed in domestic markets.

The minority Makabayan bloc, led by Bayan Muna Rep. Eufemia C. Cullamat, filed House Resolution 2263 Wednesday requesting an investigation by the House Committee on Agriculture and Food.

According to the resolution, farmers have reported diminished demand for their crops due to competition from the smuggled produce, forcing farmers to dump their harvests.

“Benguet farmers, vegetable farmers, and truckers reiterated their calls to stop vegetable smuggling as they urged the government for more significant protection against imports and smuggled produce,” according to the resolution.

Agriculture Secretary William D. Dar said Tuesday that shipments of cabbages and carrots from China had been misdeclared as “other items.”

He also added that the Bureau of Plant Industry did not issue import permits for the vegetables.

Mr. Dar also warned against buying smuggled vegetables due to uncertainty regarding their pesticide content.

Farmers also called the attention of the Department of Agriculture (DA) to contraband cabbage circulating in Divisoria market at P70 per kilogram, much lower than the price of Benguet cabbage, which sells for P115 to P125 per kilogram, according to the Kilusang Magbubukid ng Pilipinas.

“The rampant smuggling of carrots since August is disturbing. Farmers and traders have called the attention of the DA Secretary (Dar) but (he) has not acted on it,” Ms. Cullamat said in a statement. — Russell Louis C. Ku

1Sambayan nominates VP Leni for president

OPPOSITION coalition 1Sambayan has officially endorsed Vice President Maria Leonor “Leni” G. Robredo as its standard bearer for the 2022 elections.

Ms. Robredo, in a statement released after the group’s announcement on Thursday, thanked 1Sambayan but did not confirm whether or not she would accept the nomination.

“1Sambayan is pleased to announce to the nation that it has reached a decision to endorse Vice President Leni Robredo as its presidential candidate for the May 2022 electrons,” Retired Supreme Court justice Antonio T. Carpio, convenor of the opposition coalition, said in a media forum.

Mr. Carpio said the coalition followed a “rigorous process” in reaching the decision, adding that it consulted its local and foreign chapters and coalition partners.

“We based our decision on several criteria: integrity, competence, track record, patriotism, vision for our country, and winnability,” he said. “We have chosen VP Leni based on these criteria.”

Mr. Carpio said it is unlikely that Ms. Robredo would decline the endorsement, citing her commitment to bail the country out from alleged plunder and other social ills.

Should Ms. Robredo decline the endorsement, the convenors will meet again to choose a new candidate, he said.

In June, 1Sambayan announced that Ms. Robredo was among its potential candidates for the country’s two highest positions.

Ms. Robredo, meanwhile, said she is still in deep discernment over her political plans, noting the heavy responsibility of being president.

“Mabigat ang hinihiling sa isang pangulo. Maraming responsibilidad at obligasyon ang dala nito — buhay at kinabukasan ng Pilipino ang nakataya (Much is expected from a president. It bears a lot of responsibilities and obligations — the life and future of Filipinos are at stake),” she said in a statement.

Ms. Robredo asked supporters to join her in “prayer” so “that our decision will be what is best for our country.”

Political science professor Maria Ela L. Atienza said it was expected that Ms. Robredo would be the candidate of the opposition coalition since she has clearly stood against the controversial policies of President Rodrigo R. Duterte.

“She is, after all, the ‘true opposition’ as the other candidates have not started out as opposition,” she said in a Viber message. “Many of them are enablers of the Duterte administration policies and some of the people behind their campaign are or were Duterte supporters at one time.”

Ms. Atienza said Ms. Robredo’s “advantage is that she can capitalize on the progressive sectors who are genuinely anti-Duterte or anti-administration policies.”

“The task now is to increase those numbers and convince other voters that the other candidates are not genuine opposition,” she said.

Ms. Robredo’s rankings in pre-election surveys will improve once she declares her candidacy, said Ateneo Policy Center senior research fellow Michael Henry Ll. Yusingco. “In fact, it has improved even in the face of her indecisiveness.”

Support for Ms. Robredo’s potential presidential run increased by two points to 8%, according to a new Pulse Asia survey.

“Any rise in her position in any survey will not be enough to beat the others if she just relies on an anti-Duterte narrative,” Mr. Yusingco said.

The political analyst said Ms. Robredo, who has been trying to unify administration critics ahead of the upcoming polls, needs to “talk directly to the voters outside of her echo chamber.”

“The only way she can bring them to her side is by offering a program of government that is doable under the current circumstances,” Mr. Yusingco said.

“Voters already know her work ethic, her love for the country, her reliability as a civil servant and her competence as an executive. Her track record is unimpeachable. So there is no need to harp on these things.”

Mr. Yusingco said more voters “will be moved if they can see that VP Leni and her team has a better and more coherent way out of the current crisis.”

“If her camp sticks to the same old tactics, then it’s hard to imagine her winning the race,” he said. “They should remind themselves all the time of the Otso Diretso debacle in 2019.” — Kyle Aristophere T. Atienza

Coronavirus cases in Metro Manila continue to drop

PHILIPPINE STAR/ MICHAEL VARCAS

THE REPRODUCTION number of coronavirus cases in Metro Manila continues to decline, a group of public health researchers said on Thursday, two weeks after the government enforced a new lockdown system.

The reproduction number in the capital region decreased to 0.87, which is lower than the critical cut-off of 1.4, OCTA Research Group said in its latest monitoring report.

OCTA said the seven-day average of new coronavirus cases in Metro Manila dropped by 17% to 3,891, while the positivity rate dropped to 18% from 21% the previous week. Still, the positivity rate is “high,” it said.

Philippine health authorities on Thursday reported 14,286 coronavirus disease 2019 (COVID-19) cases nationwide, bringing the total to 2.55 million.

The death toll rose to 38,294 after 130 more patients died, while recoveries increased by 8,268 to 2.4 million, the Department of Health (DoH) said in a bulletin.

DoH said there were 138,294 active cases, 77.7% of which were mild, 15.8% were asymptomatic, 2.0% were severe, 3.72% were moderate and 0.9% were critical.

Despite its improving coronavirus numbers, Metro Manila remains high-risk for the coronavirus, OCTA said.

“Using Covid Act Now guidelines, NCR (National Capital Region) remained at high risk but could possibly improve to moderate risk within a week,” it said.

It added that several local government units in the region such as Navotas, Manila, Malabon, Pasay, Valenzuela, and Pateros are under a moderate-risk classification.

Meanwhile, the country on Thursday took delivery of about 1.2 million doses of the vaccine made by Moderna, Inc. Of these, about 863,800 doses were paid for by the national government, while 369,600 doses were purchased by the International Container Terminal Services, Inc. (ICTSI) Foundation.

Nearly 45.15 million doses of coronavirus vaccines had been given out as of Sept. 29, Palace spokesman Herminio L. Roque, Jr. told a televised news briefing.

More than 21.1 million people or 27.36% of adult Filipinos had been fully vaccinated, he added.

Earlier this week, the Presidential Palace announced that the country will start vaccinating the general population and minors against the coronavirus in October. Children aged 12 to 17 years who are seriously ill would be prioritized, according to DoH. — Kyle Aristophere T. Atienza

PHL defense secretary says was urged by China to drop review of US treaty 

REUTERS

CHINA has opposed a Philippines-led push for a review of its 70-year-old defense treaty with the United States, Manila’s defense minister said on Thursday, concerned that it could be seen in Beijing as an effort to contain its rise. 

The Philippines is keen to amend the 1951 Mutual Defense Treaty (MDT) to make clear the extent to which the United States would protect and defend its ally should it come under attack.  

At an event to mark the MDT’s 70th anniversary, Defense Secretary Delfin N. Lorenzana said he had been urged by a former Chinese diplomat to back off.  

“While the US welcomes the idea of revisiting the MDT, an outside party does not,” he said.  

“The former Chinese ambassador came to me and said: ‘Please do not touch the MDT. Leave it as it is’,” said Mr. Lorenzana.  

He later clarified the conversation took place in 2018.  

“It did surprise me. I asked him why? He said any attempt to revise the MDT would be construed by the Chinese government as act to contain the rise of China,” Mr. Lorenzana told Reuters.  

Asked how he responded, Mr. Lorenzana said: “I just looked at him and smiled.”  

There was no immediate comment from the Chinese embassy in Manila.  

The push for clarity on Washington’s commitment comes amid a rapid buildup of Chinese maritime assets in contested areas of the South China Sea, including what the Philippines says is a militia disguised as a massive fishing fleet near Beijing’s militarized manmade islands.  

The Philippines has filed dozens of diplomatic protests about the militia and announced it would send another on Thursday.  

The Philippine-US alliance has existed for decades, with a rotating presence of US troops for joint exercises, intelligence exchanges and hardware transfers.  

Mr. Lorenzana said it was clear that strengthening the MDT was not in China’s interests.  

“The Chinese, having embedded themselves with their artificial islands, are not in a hurry for any resolution,” he told the forum.  

“It knew that any aggression it takes will trigger the MDT.” — Reuters 

‘Slow-moving’ Mindanao rail gets zero fund in 2022

THE TRANSPORTATION department on Thursday told the Senate Committee on Finance that the Department of Budget and Management (DBM) did not approve its proposed budget for the implementation of the Mindanao Railway Project in 2022.

“Unfortunately, the DBM did not approve it, and we intend to request that the project be given a budget,” Transportation Undersecretary for Railways Timothy John R. Batan, speaking in mixed English and Filipino, told the committee during a budget hearing.

Transportation Assistant Secretary Goddes Hope O. Libiran said in a phone message that the project will need P2 billion next year.

Sought for comment, DBM Officer-in-Charge and Undersecretary Tina Rose Marie L. Canda said in a phone message: “ROW pa lang (It is still in the right-of-way acquisition phase). Slow moving ito eh.”

“Also, if DoTr (Department of Transportation) thinks this project is a priority, it could have reallocated an amount for this project,” she added.

To be funded by a loan from China, the Mindanao rail project was initially expected to start partial operations in March 2022 and full operations in June 2023.

In the revised “indicative” timeline provided by the Transportation department on Sept. 13, construction work is now expected to start in April 2022.

The department, now eyeing to start partial operations in Oct. 2022 and full operations in Oct. 2023, is still waiting for the shortlist of bidders from China for the design-and-build contract of the project.

The House of Representatives plenary approved on Wednesday the department’s proposed P151.34-billion budget for 2022.

In the budget proposal, the railway sector is allotted the biggest portion or 98% of the total infrastructure budget.

The department’s infrastructure projects get an 88% share of the total capital outlays budget.

Meanwhile, the department also announced on Thursday that a Spain-based company is set to sign the contract agreement for the detailed architectural and engineering design of the Metro Rail Transit Line 4 (MRT-4).

The project, which is funded by an official development assistance from the Asian Development Bank, aims to connect parts of eastern Metro Manila with the province of Rizal.

“IDOM Consulting Engineering, Architecture, SA, as the detailed architectural and engineering design consultant (DEDC) will prepare the project’s preliminary design, detailed engineering and tender designs, the loan processing documents, financial and economical assessments, the project/loan safeguards documents, and bidding documents for the MRT-4 project,” the department said in a statement. — Arjay L. Balinbin

Japan-funded 18.97-km Marawi road rehab completed

DPWH

THE DEPARTMENT of Public Works and Highways (DPWH) announced Thursday the completion of a Japan-funded 18.97-kilometer (km) road rehabilitation project in war-torn Marawi City.

“The Marawi Transcentral Road Phase 1 project that involves the design and build of 18.97-kilometer roads implemented under three contract packages were financed by a 2 billion Japanese Yen or P970.97-million grant to the government of the Philippines by the government of Japan thru JICA (Japan International Cooperation Agency),” the department said in a statement.

DPWH said the fund, intended as support to the Marawi rehabilitation and reconstruction program, was also used for the detailed engineering design of another 18.78 kilometers of road sections.

Civil works has started for the additional road projects, which will be funded through an official development assistance loan under JICA’s program for conflict-affected areas in Mindanao.

“As you can see now, our government is fulfilling the promise to build back better with a peaceful road to recovery from the suffering due to Marawi siege four years ago,” DPWH Secretary Mark A. Villar said during the inauguration ceremony on Sept. 29.

Japanese Ambassador Kazuhiko Koshikawa, for his part, said his government recognizes the importance of road infrastructure to Marawi’s recovery by providing improved mobility for people and the transport of goods. — Arjay L. Balinbin

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