Thursday, March 26, 2015

Japan provides over Php9-B aid to fund five PHL development projects

From the Philippine News Agency (Mar 26): Japan provides over Php9-B aid to fund five PHL development projects

Japan has provided the Philippines over Php9 billion worth of assistance to fund five development projects with a specific focus on conflict prevention, infrastructure, disaster-management, energy and trade.

Foreign Affairs Secretary Albert del Rosario and Japanese Ambassador to the Philippines Kazuhide Ishikawa signed and exchanged notes on four Official Development Assistance (ODA) grant projects amounting to JPY 2.789 billion or about Php1.195 billion and two yen loan projects amounting to JPY 19.5 billion or approximately Php8.356 billion.

Finance Secretary Cesar Purisima and Japan International Cooperation Agency Chief Representative Noriaki Niwa also signed the two yen loan agreements.

The Grant Aid program for the Project for Community Development in Conflict-Affected Areas in Mindanao worth JPY 1.117 billion will be implemented by the Department of Agriculture to promote conflict prevention and peace-building in the Philippines, particularly in Mindanao.

To support the hydropower development program of the government and help attain its “Renewable Energy Policy Framework” target, Japan’s Grant Agreement for Mini-Hydropower Development Project in the Province of Ifugao worth JPY 893 million was increased to JPY 922 million.

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

A JPY 250-million Non-Project Grant Aid will fund small-medium enterprises and support the procurement of weather, rainfall and river observation systems by the country’s weather bureau.

Another Non-Project Grant Aid worth JPY 500 million will fund the acquisition of disaster risk reduction equipment and facilities and at the same time aid the Philippine National Police (PNP) in responding and adapting to climate change and disasters.

Two Yen Loan Programs have been provided for the Metro Manila Interchange Construction Project (MICP) Phase VI worth JPY 7.9 billion or about Php3.345 billion and the Flood Risk Management Project (FRMP) for Cagayan de Oro River worth JPY 11.6 billion or Php5.011 billion.

The MICP’s objective is to alleviate serious traffic congestion and enhance transportation capacity and efficiency around Metro Manila through interchange/flyover construction, thereby contributing to socio-economic development of Metro Manila and the surrounding suburbs.

FRMP, on the other hand, aims to mitigate flood risk in Cagayan de Oro River Basin through the construction of new dikes and improvement of existing bridges in Cagayan de Oro, among others.
 
Japan is the Philippines’ top source of official development assistance.
 
Its assistance, through loans, grants and technical cooperation, covers a wide range of areas, including public works, socio-economic infrastructure, transportation and communications, agriculture, and capability-building, among other areas.
 

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