THE government of Japan through the Japan International Cooperation Agency (Jica) will extend a P15 billion loan to the Philippines as a standby loan facility that can be used to respond to various disasters. Representatives of the Government of the Philippines and Jica signed in Tokyo the JPY 30-billion “Post-Disaster…
THE government of Japan through the Japan International Cooperation Agency will extend a P15 billion loan to the Philippines as a standby loan facility that can be used to respond to various disasters.
The cooperation covers funds following emergencies so that recovery and reconstruction will be faster. The Jica noted that being located at the Pacific Ring of Fire, the Philippines is vulnerable to natural disasters and other emergencies. On average, about 20 typhoons hit the country annually. The PDSL’s first phase contained a JPY-50 billion or P25-billion loan that should have been used for recovery and rehabilitation after Typhoon Yolanda hit the country in 2013.
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