Philippines to borrow funds from Japan for road development

This is where our taxes go
Jun 6, 2011

Road photo from SXC.hu

The Philippines is set to borrow nearly P22 billion from Japan to finance road project nationwide.

The loan will be provided by the Japan International Cooperation Agency, Inquirer.net said. Japan is the Philippines' biggest source of loans geared for development.

"The money will be used to fund the 'Road Upgrade and Preservation' project of the government," the report said. "The Department of Public Works and Highways will implement the project aimed at improving various national roads throughout the country."

The P22-billion loan will keep Filipino taxpayers indebted to Japan for 25 years. Considering this amount of time we need to pay for the loan, perhaps we should get a say on where the money will be spent. In your opinion, which areas of the country should be prioritized for road construction and renovation projects?

Photo from SXC.hu

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