The Philippines has received 20 billion yen, or around P8.71 billion, as third tranche of the Japan International Cooperation Agency’s (JICA) Post Disaster Stand-by Loan Phase 2 (PDSL 2), following the first disbursement of 10 billion yen last October and another 10 billion yen early this year.
The Philippines is a recipient of the 50 billion yen PDSL 2 of JICA as contingency funds for the country’s response to the financial demand of post-disaster recovery in case of natural disasters and public health threats.
Azukizawa Eigo, JICA Philippines chief representative, said “the disbursement hopefully will support social amelioration program for vulnerable people and sectors, and thereby cushioning the economic impact of the pandemic in the Philippines particularly on job losses and support economic recovery efforts.”
PDSL 2 complements JICA’s COVID-19 Crisis Response Emergency Support Loan released in August 2020 and its support to the Build, Build, Build infrastructure agenda of the government.
The earlier disbursement also supported the rescue, relief and rehabilitation of areas devastated by typhoons Quinta, Rolly and Ulysses in 2020. – Angela Celis
