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Philippines, Japan inks development assistance grants, Yen loan projects

Cbanga360.Net - The Bicol Street Journal

Published         27 Mar , 2015      11:03 pm          305 views.

MANILA, March 27 — The Philippines is funding identified big ticket priority and vital government projects sourced through loan grants and developmental assistance programs from Japan.

Some of these include four Official Development Assistance (ODA) grant projects amounting to JPY 2.789 billion (approximately PhP 1.195 billion) and two yen loan projects amounting to JPY 19.5 billion (approximately PhP 8.356 billion) which was formmaly signed by Foreign Affairs Secretary Albert F. del Rosario and Japanese Ambassador to the Philippines Kazuhide Ishikawa.

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The grant aid program for the project for community development in conflict-affected areas in Mindanao worth JPY 1.117 billion will be implemented by the Department of Agriculture (DA) to promote conflict prevention and peace-building in the Philippines, particularly in Mindanao.

The grant agreement for mini-hydropower development project in the province of Ifugao worth JPY 893 million was increased to JPY 922 million. It will be implemented by Department of Energy (DOE) to determine the technical feasibility and economic viability of hydropower projects along irrigation canals administered by the National Irrigation Administration (NIA). It also supports the hydropower development program of the DOE and helps it attain its “Renewable Energy Policy Framework” target.

The non-project grant aid for provision of Japanese SMEs products worth JPY 250 million will be implemented by the Department of Public Works and Highways (DPWH) and Philippine Atmospheric, Geophysical and Astronomical Services Administration – Department of Science and Technology (PAGASA-DOST) to support the procurement of weather, rainfall and river observation systems by PAGASA-DOST and various equipment and machinery by DPWH.

The non-project grant aid on the provision of disaster risk reduction (DRR) equipment and facilities 2014 worth JPY 500 million will be implemented by various agencies such as the Department of Education (DepEd), Department of Social Welfare and Development (DSWD), Department of Public Works and Highways (DPWH), and the Philippine National Police (PNP) to support and assist the national and local governments in responding and adapting to climate change and disasters.

The two Yen loan programs for Metro Manila I]interchange construction project (MICP) Phase VI worth JPY 7.9 billion (approximately PhP 3.345 billion) and the Flood Risk Management Project (FRMP) for Cagayan de Oro River worth JPY 11.6 billion (approximately PhP 5.011 billion) will be implemented by DPWH. The MICP’s objective is to alleviate serious traffic congestion and enhance transportation capacity and efficiency around Metro Manila through interchange/flyover construction, thereby contributing to socio-economic development of Metro Manila and the surrounding suburbs. The FRMP aims to mitigate flood risk in Cagayan de Oro River Basin through the construction of new dikes and improvement of existing bridges in Cagayan de Oro, among others.

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