Japan releases Y10 billion PH pandemic response loan – Manila bulletin

Japan has released 10 billion yen (about 4.6 billion pesos) to the government of the Philippines the last tranche of Phase 2 of the Post-Disaster Relief Loan (PDSL 2) to complement the country’s disaster and emergency response health such as the ongoing COVID-19 pandemic.

“I hope this fund will help reduce the burden on those suffering from COVID-19,” Japanese Ambassador to the Philippines Koshikawa Kazuhiko said in a tweet shortly after the funds were released this weekend. .

65th anniversary of Japan-Philippines diplomatic relations (JICA)

The publication was carried out through the facilities of the Japan International Cooperation Agency (JICA).

Following the re-imposition of Community Quarantine Enhancement (CEQ) in the National Capital Region earlier this month, the need to support vulnerable sectors and improve facility health capacity has also grown. intensified.

As a result, Japan received a disbursement request from the Philippines for the allocation of the remaining part of PDSL 2 to be used for pandemic response and recovery interventions such as provision of emergency grants and reinforcement. prevention mechanisms.

On September 15, 2020, JICA and the Ministry of Finance signed the PDSL 2 agreement establishing a contingency fund from which the Philippine government could withdraw up to 50 billion yen.

The first tranche of PDSL 2 worth 10 billion yen was released in October 2020, following the extension of the state of calamity in the Philippines due to the COVID-19 pandemic.

In total, three PDSL 2 disbursements were made this year, including Y 10 billion in January 2021 to help reconstruction efforts after typhoons Quinta, Rolly and Ulysses, Y 20 billion in June 2021 to increase the COVID war chest -19 from the Philippine government, and the latter Y10 billion released this month.

Along with Japan’s other form of support during this global health crisis, the Japanese government has expressed high hopes that the PDSL 2 will meet its goal of fast-disbursing budget support that would pave the way for the Philippines to fully recover from the crisis. impact of the current pandemic. .



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