The Philippine national government confirmed that they received a fresh P9.5 billion in aid and loans from Japan as of Japanese government’s commitment to local development efforts in the country, particularly in the areas of Mindanao. The grant given to the country is aimed at preventing conflict and building peace in Mindanao ares.
On Thursday, March 26, Foreign Secretary Albert del Rosario and Japanese Ambassador Kazuhide Ishikawa exchanged notes on four official development assistance grants amounting to 2.789 billion yen (approximately P1.195 billion) and two yen-loan project totaling 19.5 billion yen (P8.356 billion).
The country’s Finance Secretary Cesar V. Purisima and Japan International Cooperation Agency chief representative Noriaki Niwa signed the two yen-loan agreements. The national government also announced that the grand for community development projects in Mindanao conflict areas or 1.117 billion yen will be implemented by the Department of Agriculture.
The grant released by the Japanese government is aimed at preventing conflict and building peace in the country, particularly in the areas of Mindanao.
The Department of Energy also receive a grant for mini-hydropower development project in Ifugao province which was worth 893 million yen will be increased to 922 million yen this year.
