Funding secured for major infrastructure project in the Philippines

Finance Secretary Ralph G. Recto inked five financing agreements for critical projects with the Government of Japan during the 15th Philippines-Japan High-Level Joint Committee Meeting (HLJCM) on Infrastructure Development and Economic Cooperation on March 24, 2025.

One of the projects that will receive financing from the Japan in the amount of approx. $305 million is the Pasig-Marikina River Channel Improvement Project, Phase IV.

The investment will go towards flood control measures in Metro Manila, including dikes, revetments, flood gates, and channel dredging.

The aim is to mitigate flood damages in Metro Manila caused by channel overflow of the Pasig-Marikina River by implementing river channel improvement works together with non-structural measures in consideration with the flood risk management, and thereby contribute to the sustainable urban economic development of the region.