2024.06.11
On June 10, the Japan International Cooperation Agency (JICA) signed a loan agreement with the Government of the Republic of the Philippines in Manila to provide a Japanese ODA loan of up to 64,380 million yen for the Maritime Safety Capability Improvement Project for the Philippine Coast Guard (Phase III).
This project is to provide the Philippine Coast Guard (PCG) with the finance to procure five (5) 97-meter Multi-Role Response Vessels (MRRVs).
The objective of this project is to improve the capability of the PCG to quickly and appropriately respond to offshore and coastal maritime incidents, such as search and resque (SAR), maritime law enforcement (MARLEN), etc., by providing MRRVs, thereby contributing to maritime safety of the country. In doing so, the project will contribute to the achievement of SDGs 9 (Industry, innovation and infrastructure), 14 (Life below water), and 16 (Peace, justice and strong institutions).
Special Terms for Economic Partnership (STEP)* will apply to the Japanese ODA loan for this project, and Japanese shipbuilding technologies will be utilized.
signing ceremony
* STEP refers to special assistance terms for promoting the visibility of Japanese aid through a transfer of outstanding Japanese technology and expertise to developing nations. The main contract is Japan tied and subcontracting is general untied. The main agreement partner must generally be a Japanese company, an overseas subsidiary of a Japanese company, or a joint venture between a Japanese company and the borrowing country where the Japanese company is the lead partner, although under certain conditions a joint venture between a Japanese company (which is the lead partner of the joint venture) and an affiliated company (as accounted under the equity method) of a Japanese company may be the main agreement partner.
Details for the project are provided below.
| Project title | Amount (million yen) |
Annual interest rate (%) | Repayment period (years) |
Grace period (years) |
Procurement | |
|---|---|---|---|---|---|---|
| Project | Consulting services | |||||
| Maritime Safety Capability Improvement Project for the Philippine Coast Guard (Phase III) | 64,380 | 0.30 | 0.20 | 40 | 10 | Japan Tied |
Completion of project: December 2028 (Delivery of Fifth Vessel)
For further information about the project, please contact JICA Philippines Office.
Address: 40th Floor, Yuchengco Tower, RCBC Plaza, 6819 Ayala Avenue, Makati City,
Philippines
Phone: +63-2-889-7119
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