Advertisement

Japan extends another yen loan to aid Mindanao

The Japanese government is extending 3.2 billion yen in grant assistance to the Philippines for peace and development projects in Mindanao, the Department of Finance said Friday.

The grant is on top of its $202-million loan for the Road Network Development Project in conflict-affected areas in Mindanao. Japan announced the assistance during the 7th meeting of the Japan-Philippines Joint Committee on Infrastructure Development and Economic Cooperation held in Osaka on Thursday.

Philippine officials led by Finance Secretary Carlos Dominguez III discussed with their Japanese counterparts ways to further expand their cooperation and address “implementation bottlenecks” in the Duterte administration’s “Build, Build, Build” infrastructure projects and in supporting peace-building initiatives in Mindanao following the recent ratification of the organic law establishing a new Bangsamoro region in the South.  

The 3.2 billion yen grant includes 1.8 billion yen for the construction of Technical Education and Skills Development Authority training centers in the damaged city of Marawi, and the provinces of Basilan and Sultan Kudarat under the Program for the Urgent Improvement of Socioeconomic Infrastructure in the Bangsamoro Region.

Another 560 million yen will fund the purchase of well-drilling machines and underground water detecting machines under the Economic and Social Development Program and 200 million yen for the provision of livelihood assistance in agriculture and for fishers through the Food and Agriculture Organization.

The loan will also provide 300 million yen for the development of water facilities in the Bangsamoro region through the International Labor Organization and 340 million yen for the provision of vehicles and equipment through the United Nations Development Program.

Topics: Japan , yen loan , grant assistance , Mindanao , Department of Finance
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by manilastandard.net readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of manilastandard.net. While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.
AdvertisementGMA-Working Pillars of the House
Advertisement