Finance Secretary Frederick D. Go underscored the Philippines’ deepening diplomatic and economic partnership with Japan during the 42nd Annual Joint Meeting of the Philippine and Japan Economic Cooperation Committees held on February 19, 2026.
In his keynote address, Secretary Go emphasized that this year is especially meaningful as the Republic of the Philippines and Japan celebrate the 70th Anniversary of diplomatic relations—marking seven decades of trust, cooperation, and shared progress that have transformed the partnership into one of the most strategic relationships in the region.
“Japan has been with us at every critical juncture of our development journey. And today, we stand not only as partners—but as co-architects of shared prosperity in the Indo-Pacific,” Secretary Go said.
The Finance Chief highlighted the recent signing of the Exchange of Notes for the Proposed Second Supplemental Loan of the Metro Rail Transit Line 3 (MRT-3) Rehabilitation Project in partnership with the Japan Government and Japan International Cooperation Agency (JICA), describing the project as a vital investment in mobility, productivity, and quality of life for hundreds of thousands of daily commuters in Metro Manila.
“Each project reflects Japan’s reputation for quality infrastructure—durable, efficient, and future-ready. And each project reflects the Philippines’ determination to build better, faster, and smarter,” the Finance Secretary noted.
He also announced that before the close of Japan’s Fiscal Year 2025, the Philippines is targeting the signing of three additional critical financing agreements totaling JPY 243.31 billion, or approximately USD 1.58 billion, covering infrastructure projects including the Metro Manila Subway and the Central Mindanao Highway.
For Japanese Fiscal Year 2026, both governments are aiming to finalize 11 more financing agreements amounting to JPY 371.31 billion, or approximately USD 2.41 billion, further strengthening infrastructure priorities and Japan’s development support.
Since the start of the administration, 12 financing agreements have already been signed, amounting to JPY 910.38 billion, or approximately USD 5.92 billion. These projects are now moving from commitment to implementation, translating financing into physical progress on the ground.
“All these figures speak volumes. They reflect trust in the Philippines’ economic direction, confidence in our institutions, and a shared belief in long-term partnership,” he said.
Secretary Go emphasized that Japan remains the Philippines’ largest provider of Official Development Assistance (ODA). As of December 2025, total loan and grant commitments from Japan reached approximately USD 13.96 billion, accounting for 33.54 percent of the country’s total ODA portfolio.
He assured Japanese and Philippine business leaders that the country’s economic fundamentals remain solid, citing steady growth, manageable inflation, prudent fiscal management, and sustained investment.
The Finance Secretary reiterated the government’s commitment to structural reforms that enhance ease of doing business, promote public-private partnerships, and create a more predictable and competitive investment environment.
Under the theme of “Building on Seventy Years of Philippines—Japan Friendship: A Bedrock of Stronger Philippines—Japan Economic Partnerships for Harmony, Prosperity and Strategic Collaborations,” Secretary Go, in his closing remarks, reaffirmed the Philippines’ readiness to further strengthen ties with Japan.
“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 said.
The annual meeting was joined by the Philippines—Japan Economic Cooperation Committee (PHILJEC) and Japan-Philippines Economic Cooperation Committee (JPECC).
