SUMMARY
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The Philippines got the first slice of Japan’s $100-billion Asian infrastructure aid, after representatives from the two countries on Friday, November 27, formally signed a $1.99-billion loan agreement for a 36.7-kilometer railway connecting Tutuban, Manila, and Malolos, Bulacan.
This marks the largest loan package of the Japanese government to a development partner. The North-South Railway (Malolos-Tutuban) deal supports the expansion of a mass transportation network, which is recognized as one of the priorities in the 2011-2016 Philippine Development Plan (PDP).
Read the details of the deal on Rappler Business.
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