Monday, October 23, 2017
Close  
business /

PH gets P9.5B in new Japan aid

business /
  • share this

PH gets P9.5B in new Japan aid

MANILA, Philippines—The Philippines has received a fresh P9.5 billion in aid and loans from Japan as part of the latter’s commitment to local development efforts.

Foreign Secretary Albert del Rosario and Japanese Ambassador Kazuhide Ishikawa on Thursday exchanged notes on four official development assistance grants amounting to 2.789 billion yen (approximately P1.195 billion) and two yen-loan projects totaling 19.5 billion yen (P8.356 billion).

Finance Secretary Cesar V. Purisima and Japan International Cooperation Agency chief representative Noriaki Niwa signed the two yen-loan agreements.

ADVERTISEMENT

The grant for community development projects in Mindanao conflict areas of 1.117 billion yen will be implemented by the Department of Agriculture.

The grant is aimed at preventing conflict and building peace in the country, particularly in Mindanao.

In the energy sector, the grant for a mini-hydropower development project in Ifugao province worth 893 million yen was increased to 922 million yen this year.

It will be implemented by the Department of Energy which will determine the technical feasibility and economic viability of hydropower projects along irrigation canals administered by the National Irrigation Administration.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: albert del rosario, Cesar V. Purisima, Japan International Cooperation Agency, Kazuhide Ishikawa, National Irrigation Administration
For feedback, complaints, or inquiries, contact us.




© Copyright 1997-2016 INQUIRER.net | All Rights Reserved