Philippines

Japan OKs P1.8-B addt’l assistance to PH

Japan OKs P1.8-B addt’l assistance to PH
By Joyce Ann L. Rocamora

MANILA (Philippines News Agency) — The Japanese and Philippine governments on Thursday signed exchanges of notes worth JPY3.56 billion (about PHP1.8 billion) composed of two grants for additional support in Mindanao and one grant for the provision of train simulators in the country.

The signing ceremony was led by Ambassador Koji Haneda and Ambassador Jose Laurel V during the 7th Japan-Philippines High Level Joint Committee on Infrastructure Development and Economic Cooperation in Osaka.

Of the JPY3.56 billion-worth of grants, at least JPY2.36 billion (PHP1.18billion) will be allocated for the improvement of socioeconomic infrastructures and water supply in the Bangsamoro region.

The remaining is earmarked for the procurement of the Philippine Railway Institute’s railway simulator equipment.

On top of its commitment to develop high quality railway systems in Mega Manila, Tokyo supports the establishment of a railway training school in the country through yen loan and technical assistance.

The signing ceremony was witnessed by Dr. Hiroto Izumi, Special Adviser to the Prime Minister, and Finance Secretary Carlos Dominguez III.

Also present were Public Works Secretary Mark Villar, Transportation Secretary Arthur Tugade, Budget Secretary Benjamin Diokno, Energy Secretary Alfonso Cusi, Socioeconomic Planning Secretary Ernesto Pernia, Housing Secretary Eduardo del Rosario, and Bases Conversion and Development Authority president Vivencio Dizon.

Japan recently signed an Exchange of Notes to provide JPY22 billion (about PHP 11 billion) of loan to support the development of the road network in Mindanao.

According to the Japanese embassy in Manila, an Exchange of Notes worth JPY500 million (PHP250 million) for agricultural training and further development of water supply in the Bangsamoro area will also be signed “soon”. (PNA)

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