Taguig city: The Philippines is eyeing the signing of three additional financing agreements with Japan by March this year, with a further eleven agreements planned for Japan's 2026 fiscal year, which begins in April. Finance Secretary Frederick Go made the announcement during the 42nd Annual Joint Meeting of the Philippine and Japan Economic Cooperation Committees held in Taguig City.

According to Philippines News Agency, these additional agreements are expected to bring in approximately USD1.58 billion, earmarked for key infrastructure projects like the Metro Manila Subway and the Central Mindanao Highway. These new deals will complement the twelve financing agreements already secured for Japan's 2025 fiscal year, which amount to around USD5.92 billion.

The upcoming fiscal year's agreements, valued at approximately 371.31 billion Japanese yen or USD2.41 billion, will also focus on infrastructure projects and development support. Go highlighted Japan's vital role in the Philippine economy, noting its position as the largest provider of official development assistance (ODA) to the country. By the end of 2025, ODAs and loan commitments from Japan had reached around USD13.96 billion, accounting for over 30 percent of the Philippines' total ODAs.

Go stated, 'Japan has been a steadfast partner in our past. It is a strategic partner in our present. It will remain an indispensable partner in our future.' He also mentioned that Japanese debt instruments, such as the Samurai bond, remain under consideration as the Philippines seeks to diversify its investments. The last issuance of Samurai bonds by the Philippine government occurred in April 2022, amounting to approximately 70.1 billion Japanese yen (USD600 million) through a multi-tranche issuance of ASEAN sustainability bonds with maturities of five, seven, ten, and twenty years.