Finance Secretary Carlos G. Dominguez III has thanked outgoing Japanese Ambassador Koji Haneda for a “most productive” stint in the Philippines, which saw bilateral relations between Tokyo and Manila rising to new levels of cooperation under his three-year tour of duty.
Under Haneda’s stint, Dominguez said the Philippines signed several loan and grant agreements for President Duterte's centerpiece program “Build, Build, Build," with most of these accords processed in record time through the “fast and sure approach” adopted by both countries.
Among these agreements is the JPY104.53 billion yen loan for the first phase of the Philippines’ single biggest—and most ambitious—infrastructure project under the Duterte administration—the Metro Manila Subway Project.
Over JPY 650 billion-worth of loans covering 15 agreements have been signed by the Philippines with the Japan International Cooperation Agency (JICA) since Haneda presented his credentials to President Duterte in October 2017.
“The assistance of Japan has been invaluable to the Philippines, especially under your Ambassadorship, Your Excellency, it is unprecedented,” Dominguez said during Ambassador Haneda’s farewell call.
Dominguez also noted that under Haneda’s tour of duty, the Philippines became the first recipient of Japan’s emergency support loan for COVID-19 affected economies with the early disbursement last August 14 of its 50-billion yen financing package to the Duterte administration.
This Japanese aid aims to assist the government's ongoing efforts to contain the further spread of the coronavirus and provide economic relief to Filipinos most affected by the global health and economic crises, he said.
“Your stint has been one of the most productive for the Philippines. The amount of assistance and long term loans that had been under your ambassadorship, has been the highest I think ever in the Philippines,” Dominguez told the Ambassador during the latter’s farewell call.
“It is us who have to thank you for your very active and great support,” Dominguez added.
The finance chief also pointed out that with Haneda, Japan was among the first countries to respond to the Philippines’ call for international assistance in rehabilitating and reconstructing the devastated Mindanao city of Marawi.
Haneda was also instrumental in Japan's help to the Philippine government in its formulation of a regional development masterplan to maximize the economic potentials of the Subic Bay Freeport and its surrounding areas.