• Melo Acuna

Another loan extended to the Philippines to fight COVID-19

Japan extends P23.5 billion loan to the Philippines

MANILA – Finance Secretary Carlos G. Dominguez III signed a ¥50 billion or P23.5 billion loan from the Japanese International Cooperation Agency (JICA) at simple ceremonies today at the Department of Finance.

JICA Chief Representative to the Philippines Eigo Asukizawa signed on behalf of the Japanese Government.

The loan has been classified as COVID-19 Crisis Response Emergency Support Loan (CCRESL).

In a statement from the Department of Finance, it was learned this emergency support from Japan is designed as a co-financing cooperation complementing the Asian Development Bank (ADB)’s COVID-19 Active Response and Expenditure Support (CARES) Program with prospective loans from other development partners. This will form part of the 2020 Gross Financing Program as revised due to the COVID-19 response measure. (Melo M. Acuña)

Finance Secretary Carlos G. Dominguez III (center, left) shows th documents signed with JICA Chief Representative to the Philippines Eigo Azukizawa in simple rites at the Department of Finance today. Japanese Ambassador to the Philippines Haneda Koji (back, right) witnessed the event. (DOF Photo)

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