The Japan International Cooperation Agency (JICA) disbursed Tuesday another JYP 10 billion (roughly P4.7 billion) under its Post Disaster Standby Loan 2 (PDSL 2) assistance to the Philippines in support of families devastated by recent Typhoons Quinta, Rolly, and Ulysses in the last quarter of 2020 that caused widespread devastation and damage to infrastructure and agriculture.
JICA entered into a loan agreement with the Department of Finance (DOF) on Sept. 15 last year for the JYP 50 billion loan (approximately P24 billion pesos) to facilitate swift recovery after the onslaught of natural and health-related disasters.
This is the second time this special type of financing is extended to the Philippines, with the first phase made available to support recovery from Super Typhoon Yolanda back in 2013.
“As a friend and trusted partner of the Philippines, JICA stands by Filipinos whose lives were disrupted because of the recent natural disasters. Through the JICA post-disaster assistance, we hope that vulnerable sectors affected will find relief and support to recover their livelihood and income through the spirit of ‘bayanihan’ in these difficult times,” JICA Philippines Chief Representative Azukizawa Eigo said.
JICA had earlier disbursed JYP 10 billion to the Philippine government to support response and recovery efforts from the pandemic following the extension of the State of Calamity throughout the Philippines due to COVID-19 under Proclamation No. 929 on September 16, 2020.
In addition to PDSL 2, it has supported the country with a JYP 50 billion COVID-19 Crisis Response Emergency Support Loan signed on July 1, 2020 and released on Aug. 14.
The organization is also supporting sectors such as railways, roads and bridges, maritime safety and security, investment promotion, energy, environment, social development, agriculture, and peace and development in Mindanao.