October 27, 2020
The Japan International Cooperation Agency (JICA) disbursed this week 10 billion Japanese Yen under the Post Disaster Standby Loan Phase 2 (PDSL 2). The Philippine government requested this to address financial needs arising from the State of National Calamity extended on 16th September.
The disbursed amount is part of the total 50 billion Japanese Yen loan to ensure that contingency funds are available for the Philippines' response to the financial demands of the post-disaster recovery phase in cases of natural disaster and public health crisis. Phase 1 was provided immediately after the natural disaster Typhoon Yolanda in 2013, while Phase 2 covers public health crisis.
Earlier this year, JICA also made the disbursement of 50 billion Japanese Yen under the COVID-19 Crisis Response Emergency Support Loan (CCRESL) to immediately help the Philippines deal with the pandemic. Many of JICA's counterpart countries have requested CCRESL and PDSL amid the pandemic, but the Philippines is the first country to receive both loans.
"JICA stands with the Filipinos in this time of Bayanihan. We admire the tireless efforts and the leadership shown by the Philippine Government to tackle the unprecedented challenges posed by the spread of COVID-19," said JICA Philippines Chief Representative AZUKIZAWA Eigo. "As trusted development partner of the Philippines, JICA will continue to help promote inclusive, sustainable growth, and help improve the quality of life of everyone."
In addition to the CCRESL and PDSL, JICA continues to assist the Philippine Government in its effort to boost the economy by providing jobs to many Filipinos through new and ongoing infrastructure projects in support of the Build, Build, Build Program.
JICA, the world's largest bilateral aid organization, is also the Philippines' leading ODA partner. Aside from social development, JICA has also been assisting the Philippines in several other sectors like railways, roads and bridges, maritime safety and security, investment promotion, energy, environment, disaster risk reduction and management, agriculture, and peace and development in Mindanao.