PH, Japan exchange notes on Covid-19 loan assistance package

PH, Japan Exchange Notes on Loan Assistance Package for PH COVID-19 Response: https://t.co/hcAKpBHpV4

Foreign Affairs Secretary Teodoro L. Locsin, Jr. and Japanese Ambassador Haneda Koji exchanged diplomatic notes in simple rites today at the Department of Foreign Affairs, (1/6) pic.twitter.com/LgjdHHrHok

— DFA Philippines (@DFAPHL) July 1, 2020

MANILA – Foreign Affairs Secretary Teodoro Locsin Jr. and Japanese Ambassador Haneda Koji on Wednesday exchanged diplomatic notes in simple rites at the Department of Foreign Affairs on the 50-billion Japanese yen (approximately PHP23.13 billion) loan assistance package extended by the Japanese government to support the Philippines’ Covid-19 emergency response, as well as related social protection, relief, and economic recovery stimulus measures.

The Covid-19 Crisis Response Emergency Support Loan is to be co-financed by the Asian Development Bank’s Covid-19 Active Response and Expenditure Support program, as well as other development partners.

Japan’s Foreign Minister Motegi Toshimitsu had personally affirmed his country’s commitment to extending this assistance to Locsin in their telephone discussion on May 22.

The package is consistent with Japan’s pledge to assist the Philippines and the larger Asean region in recovering from the impacts of Covid-19, and building public health and economic resilience against future such emergencies.

Japan is the Philippines’ top official development assistance (ODA) partner for decades, with its long history of support for Philippine development priorities spanning infrastructure, health, human resources, agriculture, education, humanitarian assistance, and disaster relief, among many others. (PR)