Japan extends P13.3-B loan to PH for pandemic recovery

EXCHANGE NOTES ON LOAN AID. (From left) Deputy Undersecretary Myca M. Fischer, Undersecretary Nathaniel Imperial, DFA Undersecretary for Multilateral Affairs and International Economic Relations Lourdes Yparraguirre, Ambassador Koshikawa Kazuhiko and Japanese Embassy, ​​Second Secretary Tsuchikawa Daijo during the exchange of diplomatic notes on Monday (April 18, 2022) at the Ministry of Foreign Affairs. Japan is the Philippines’ top official development partner. (Photo courtesy of DFA-OPCD)

MANILA – The Japanese government has provided a loan of PHP 13.3 billion (JPY 30 billion) to the Philippines to support the government’s emergency response to Covid-19.

In a statement on Monday, the Foreign Office (FDFA) said the measure had been confirmed after Under-Secretary of State Lourdes Yparraguirre and Japanese Ambassador Koshikawa Kazuhiko exchanged diplomatic notes on backing the loan from Japan.

The loan, called Covid-19 Crisis Response Emergency Loan Support Phase 2, comes on top of Japan’s previous loan to the Philippines of 50 billion yen signed in July 2020.

“The latest loan package supports the Philippines’ efforts to recover from the economic impacts of Covid-19 and build public health and economic resilience against such future emergencies,” the DFA said.

Japan is the Philippines’ main official development assistance partner and supports the country’s development priorities in infrastructure, health, human resources, agriculture, education, humanitarian assistance and relief. in the event of a disaster, among others.

In July 2020, Foreign Minister Teodoro Locsin Jr. and Japanese Ambassador Haneda Koji exchanged diplomatic notes on the Japanese government’s 50 billion yen loan assistance package to support the response of Philippines Covid-19 emergency. (NAP)

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