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PH, Japan exchange notes on Covid-19 response loan assistance package

Philippines | National

PH, Japan exchange notes on Covid-19 response loan assistance package

By Argyll Cyrus Geducos

The Philippines and Japan have exchanged diplomatic notes today on the Japanese Government’s loan support for the Philippines’ emergency response to Covid-19 and related social protection, relief, and economic recovery stimulus measures, the Department of Foreign Affairs (DFA) said.

Left to right: Deputy Assistant Secretary Myca M. Fischer, Assistant Secretary Nathaniel G. Imperial, DFA Undersecretary for Multilateral Affairs and International Economic Relations Lourdes Yparraguirre, Ambassador Koshikawa Kazuhiko, and Embassy of Japan Second Secretary Tsuchikawa Daijo during the exchange of diplomatic notes today at the Department of Foreign Affairs. (DFA-OPCD Photo by Philip Fernandez)

In a statement, the DFA said the notes were exchanged and signed by Foreign Affairs Undersecretary for Multilateral Affairs and International Economic Relations Lourdes Yparraguirre and Japanese Ambassador Koshikawa Kazuhiko on April 18.

The exchange of diplomatic notes confirmed the Japanese government’s JPY 30-billion loan (approximately P13.333 billion) to support the Philippines’ pandemic and post-pandemic response.

The Covid-19 Crisis Response Emergency Loan Support (CCRESL) Phase 2 augments an earlier loan package amounting to JPY 50-billion signed last July 2020. The latest loan package supports the Philippines’ efforts to recover from the economic impacts of Covid-19 and build public health and economic resilience against such future emergencies.

Japan is the Philippines’ top ODA (official development assistance) partner, with its long history of support for Philippine development priorities spanning infrastructure, health, human resources, agriculture, education, humanitarian assistance, and disaster relief, among others.

Related Tags

PH-Japan DFA covid-19 assistance Department of Foreign Affairs Kazuhiko Koshikawa PH-Japan ties

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