Philippines' Department of Finance (DOF) said that they are exchanging notes with the Japanese government to finalize the ¥3.56 B worth of grants to be used in establishing a proposed railway institute and as an aid for peace-building efforts in Mindanao. The DOF said that Philippine Ambassador to Japan Jose Laurel and his Japanese counterpart, Ambassador Koji Haneda conducted the exchange on notes on Thursday for the ¥1.2 billion grant assistance intended for the provision of train stimulators for the Philippine Railway Institute.
The department also said that the two officials inked a memorandum of cooperation to the fields of healthcare which is aimed at establishing a mechanism that will build their partnership on universal health care coverage, elderly care, disease prevention, maternal and child health services and sanitation.
The meeting of the two officials was held in Osaka, Japan on the sidelines of the 7th meeting of the Japan-Philippines Joint Committee on Infrastructure Development and Economic Cooperation last Thursday. Japan also agreed to extend $202 million in loans to be used in the road network development project for conflict-affected areas in Mindanao. Japan and the Philippines have already exchanged notes for the loan agreement on Feb. 10.
According to Japan, it has finished the necessary procedures to sign the loan agreement and is expecting to do so at the earliest possible time once the Philippine side secures the necessary government approvals.
Japan also said that they are planning to extend another ¥840 million in grants to assist the conflict-torn Mindanao. The ¥200 million will be allocated to the Food and Agriculture Organization for the provision of livelihood assistance in agriculture and fisheries. The ¥300 million will be used to develop new water facilities in the Bangsamoro region through the International Labor Organization. The last share of the grant amounting to ¥340 million will provide vehicles and equipment to the region through the United Nations Development Program.
The department also said that Japan is considering the possibility of granting the Philippines its requested supplemental loan to be used for the Davao City Bypass Construction Project under the Special Terms for Economic Partnership facility depending to certain conditions.
According to the DFA, the three projects further affirm Japan's stature as the Philippines' top official development assistance partner, contributing significantly to the country's development and capacity-building efforts in infrastructure, security, health, trade, tourism, human resources, agriculture, education, humanitarian assistance and disaster relief, among many other areas.
