Philippines

Philippines: Japan pledges $250m yen loan

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Japanese Ambassador Makoto Katsura announced today Japan's US$250 million yen loan pledge. The announcement was made during the second Public-Private Sector Dialogue for Post-Disaster Assistance held at the InterContinental Hotel in Makati City and attended by President Gloria Macapagal-Arroyo and representatives from various development partners and agencies.

The yen loan package is composed of $100 million for the Development Policy Support Program III (DPSP III) and $150 million emergency budget support. In addition, a JICA fact-finding mission will also be dispatched to the Philippines from December 3, in response to the results of the Post-Disaster Needs Assessment conducted by the World Bank.

Ambassador Katsura also mentioned a number of other Japanese assistance projects to the Philippines which are relevant to the recovery and reconstruction process.

PRESS OFFICE
EMBASSY OF JAPAN
2627 Roxas Boulevard, 1300 Pasay City, Philippines
Phone: 551-5710 Ext. 2316/Fax: 551-5784
E-mail: press@japanembassy.ph