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Japan Releases ¥50B COVID-19 Loan to Philippines

MANILA – The Japan International Cooperation Agency (JICA) has disbursed its 50 billion yen COVID-19 Crisis Response Emergency Support Loan to the Philippine government on Aug. 14 to immediately help the country deal with the pandemic.

"JICA stands with the Filipinos in this time of Bayanihan. We admire the tireless effort and the leadership shown by the Philippine Government to tackle the unprecedented challenges posed by the spread of COVID-19. We will continue to explore new and innovative ways to deliver our development cooperation program in response to the Philippines' immediate needs and consistent with our mandate to promote inclusive and sustainable growth and a better quality of life for all," JICA Philippines Chief Representative Azukizawa Eigo said in a statement.

According to JICA, the Philippines is the first recipient of its special facility "Emergency Support Japanese Official Development Assistance (ODA) Loan for COVID-19," and is the first partner country to disburse the fund.

"The trusted partnership between the two countries allowed both governments to respond to the crisis in a 'fast and sure' manner," it said.

JICA is the Philippines' leading ODA partner. - Florenda Corpuz

(File photo taken on May 31, 2019 at the Prime Minister's Office in Tokyo, Japan)

(Photo credit: Richard Madelo/Presidential Photo)