Japan Releases ¥10-B in Post-Disaster Loan to Philippines

MANILA – The Japan International Cooperation Agency (JICA) on Tuesday released another 10 billion yen (roughly PHP4.7 billion) under its Post-Disaster Standby Loan 2 (PDSL 2) assistance to the Philippines in support of families devastated by recent typhoons in the last quarter of 2020.

The disbursement followed the declaration of the Philippine government of a 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, disrupting lives and economic activities.

“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 Eigo Azukizawa said.

The JICA disbursement forms part of the 50 billion yen loan extended on Sept. 15, 2020 to the Philippines ensuring contingency funds are available for the country's 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,” added Azukizawa.

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 throughout the Philippines due to COVID-19 under Proclamation No. 929 on Sept. 16, 2020.

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 Aug. 14. - JICA PR