PH, Japan Ink Multibillion-Peso Calamity Contingency Loan

PH, Japan Ink Multibillion-Peso Calamity Contingency Loan


7 Commandments To Revitalize The Country Safely

Medical experts recommend strict health protocols for public transportation.

Alibaba Cloud Launches New Digital Ecosystem Strategy In The Philippines

This will help local businesses adapt further to the new normal!

EDC Donates PCR Machines To Enhance Negros Oriental’s COVID-19 Resiliency

Energy Development Corporation donates equipment worth P8.5-million to Negros Oriental.

CeMAP, PISI Express Full Support For Bayanihan To Recover As One Act

The Cement Manufacturers Association of the Philippines and Philippine Iron and Steel Institute announce full support to the recently signed Bayanihan to Recover as One Act.

The Philippine and Japanese government on Tuesday signed a 50-billion yen (PHP22.93 billion) contingency fund to support the country’s early recovery after natural and health-related disasters.

Foreign Affairs Secretary Teodoro Locsin Jr. and Japanese Ambassador Koji Haneda signed and exchanged diplomatic notes on the Post Disaster Stand-by Loan Phase 2 (PDSL 2) at the Department of Foreign Affairs (DFA) on Tuesday.

The DFA said the fund would help the Philippines better manage its vulnerability to natural disasters, to combat the Covid-19 pandemic, and to mitigate the adverse effects of these risks on the country’s economy.

The loan would support technical cooperation projects that would strengthen the Philippines’ policy and institutional framework for disaster risk reduction and management, financial resilience to natural disasters and climate change, and public health emergency preparedness.

The loan’s repayment period is set to 30 years after a grace period of 10 years, with a fixed interest rate of 0.01 percent per annum.

This is the second time this special type of financing is extended to the Philippine government, with the first one made available only a few months following the onslaught of Typhoon Yolanda back in 2013.

According to the Japanese embassy in Manila, PDSL 2 is the biggest among the PDSL loans Japan has provided to developing countries.

“Japan will continue to be responsive to the needs of the Philippines in its bid to fight the Covid-19 crisis, beef up disaster risk management efforts and achieve a faster economic recovery,” the embassy said.

Earlier this year, Japan also contributed to the Philippine Covid-19 response program through an assistance package comprising of a 2-billion yen grant aid for the provision of medical equipment and establishment of laboratory surveillance sites, and another 50-billion yen budgetary support under the Covid-19 Crisis Response Emergency Support Loan. (PNA)

Sen. Pangilinan: Agriculture Is Engine Of Growth During COVID-19 Pandemic

"'Pag mas marami ang tanim, mas mababa ang presyo. Pero volume na yon. At kapag mas mababa ang presyo sa retail, may food for everybody. Food secure na 'yon."

Bataan Logs 30th Coronavirus Death

A senior citizen in Bataan has succumbed to the coronavirus recently.

Spox. Roque: Karaoke Ban Up To LGUs

Miss hitting the high notes? Malacañang leaves the decision on allowing karaoke to the LGUs.

Youths Champion Climate Change Resistance In Asia Pacific

Children and youth in Asia-Pacific call on their leaders to step up actions to tackle the climate crisis, including the strengthening of policies and plans to mitigate disaster risks and promote resilience.

Oil Prices Up This Week

Check out the new prices of petroleum for this week:

Leyte Farmers Set Up Own Sheep Multiplier Farm

A group of farmers in San Miguel town in Leyte opens its own sheep multiplier farm that will help with the local livestock production during the pandemic.

13 Schools Listed As Zambo City COVID-19 Isolation Facilities

DepEd identifies 13 public schools that will be converted as temporary isolation centers to help the city government address the shortage of COVID-19 facilities.

Dagupan Teachers Undergo COVID-19 Rapid Testing

Over 1,000 teachers in Dagupan gear up for the nearing opening of classes by availing the free rapid testing of the city.

BARMM’s Fisheries Production Up By 5%

The fisheries sector in the Bangsamoro Autonomous Region in Muslim Mindanao has shown growth despite the effects brought about by the COVID-19 pandemic.

Bacolod City Cancels This Year’s MassKara Festival

For the first time in four decades, Bacolod cancels its world-famous MassKara Festival in October.