September 18, 2020
The Japan International Cooperation Agency (JICA) announced this week JPY 50-billion Post Disaster Stand-by Loan Phase 2 (PDSL 2) to ensure that contingent funds are available for the Philippines' response to the financial demands of the post-disaster recovery phase in cases of natural and public health disasters. Through the project, JICA also supports the Philippines in promoting the implementation of policy actions to mitigate and manage disaster risks and to take measures against infectious diseases.
"Among Japan's partner countries, the Philippines is the first case that JICA is extending PDSL which is applicable to health-related disasters. We recognize that these are extraordinary times and economic uncertainties remain, not just in the Philippines but also all over the world. JICA, as a trusted development partner of the Philippines, therefore stands ready to provide further financial support should it become necessary," said JICA Philippines Chief Representative AZUKIZAWA Eigo.
The new assistance is the second phase of JICA's post-disaster standby loan for the Philippines. Back in 2014, the first post-disaster standby loan helped the Philippines to address Typhoon Yolanda recovery and rehabilitation needs including assisting the country in implementing policies on disaster risk reduction and management, responding to temporary financial needs when large-scale disasters occur, and supporting immediate recovery.
"JICA stands with the Filipinos in this time of bayanihan. We will continue to explore new and innovative ways to deliver our development cooperation program with the Philippines consistent with our mandate to promote inclusive, sustainable growth and quality life for everyone," added Chief Representative AZUKIZAWA Eigo.
In August this year, JICA disbursed to the Philippine government a JPY 50-billion COVID-19 Crisis Response Emergency Support Loan.
JICA is the world's largest bilateral aid agency and is a major development partner of the Philippines. In fiscal year 2018, the total value of JICA programs in the Philippines amounted to JPY 60.135 billion assisting different sectors of the economy such as railways, roads and bridges, maritime safety and security, investment promotion, energy, environment, disaster risk reduction and management, agriculture, and peace and development in Mindanao.