Manila: The Department of Finance (DOF) has secured the funding for the rehabilitation of the Metro Rail Transit Line 3 (MRT-3).

According to Philippines News Agency, the Japan International Cooperation Agency (JICA) is providing the third tranche loan for the project through a PHP8.2 billion financing agreement. The amount will be used to restore the train system to its original condition, improve its performance, and prepare it for future expansion by repairing and upgrading key parts.

Finance Secretary Frederick Go emphasized the significance of this development during the signing ceremony of the financing agreement. He stated, 'For the Filipinos, this means three important things: First, it means fewer delays. Second, it means shorter waiting times. Third, it means a more comfortable and predictable ride to work, to school, and back home to family.'

The DOF highlighted that all aspects of the system will undergo repair, renewal, or upgrading, including tracks, signals, power, overhead lines, communications, and station and maintenance equipment. This also includes the transition to four-car trains, creating space for 394 more passengers per train, which is expected to reduce waiting time, particularly during peak hours.

JICA Chief Representative Baba Takashi remarked that the signing of the financing agreement 'is a testament to the stakes of our vital partnership and shared commitment to delivering safe, efficient, and high-quality infrastructure transportation for the people of the Philippines.'