Japanese Ambassador Koji Haneda on June 8 signed and exchanged notes with Foreign Affairs Secretary Teodoro Locsin Jr. to formalize cooperation in two infrastructure projects: the Cebu-Mactan Bridge (4th Bridge) and Coastal Road Construction Project, and the Davao City Bypass Construction Project (2).
These yen loan projects to be financed by Japan seek to tackle connectivity and traffic congestion concerns confronting the rapidly developing metropolitan areas of Cebu and Davao. The 4th Cebu-Mactan Bridge, amounting to P56 billion, aims to improve the capacity of the existing road network in Cebu and facilitate faster movement of people, goods and services. This will be done by providing an alternative route connecting central Cebu to Mactan Economic Zone where many export-oriented industries are located.
On the other hand, the Phase 2 of Davao City Bypass worth P17 billion pesos will connect the southern tip to the center portion of the city so as to mitigate heavy traffic flow in central Davao. Both projects form part of the “Build BuildBuild” program to which Japan remains strongly committed.
As a primary driver of economic recovery in this time of Covid-19, these key infrastructure projects are eyed to help stimulate trade, business and job opportunities in the provinces and help spread growth throughout the country.