The Japan International Cooperation Agency (JICA) has disbursed another loan to the Philippines in supporting families devastated by recent typhoons in the last quarter of last year.
In a statement, Azukizawa Eigo, JICA Philippines chief representative, said they have released 10 billion yen, roughly P4.7 billion, under their Post Disaster Standby Loan 2 (PDSL 2) assistance.
The disbursement followed the declaration of state of calamity in the entire island of Luzon due to recent Typhoons “Quinta,” “Rolly,” and “Ulysses” that caused widespread devastation, destruction, and damage to infrastructure and agriculture, JICA said.
“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,” Eigo said.
Under Republic Act No. 10121 or the Philippine Disaster Risk Reduction and Management Act, a declaration of state of calamity will help quicken rescue, relief, and rehabilitation efforts of government, private sector, and international humanitarian assistance.
The JICA disbursement forms part of the 50 billion yen loan extended last September to the Philippines ensuring contingency funds are available for its response to the financial demands of post-disaster recovery in case of natural disasters and public health threats.
“As partners for inclusive development, JICA is supporting the Philippines with available financial resources to mitigate the impact of natural disasters and health crisis. We’re making it clear that we’re in this together and that JICA will support development partners who need our assistance,” Azukizawa said.
An earlier 10 billion yen was disbursed to the Philippines to support response and recovery efforts from the pandemic following the extension of the State of Calamity in the country due to COVID-19.
In addition to PDSL 2, JICA has supported the Philippines with a 50 billion yen COVID-19 crisis response emergency support loan signed on July 1, 2020 and released on August 14.
In 2013, JICA provided PDSL to the Philippines’ recovery from Typhoon Yolanda, helping families recover lost income and rebuild their lives.
JICA also continues to support the Philippines’ Build Build Build agenda to boost the economy through infrastructure building.
JICA, the world’s largest bilateral aid organization, is also a major partner of the Philippines in terms of Official Development Assistance (ODA).