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Japan donates 30b Yen for calamity victims

The Japan embassy in the Philippines announced having signed with Philippine representatives an agreement where the Japan government would donate 30 billion yen or the equivalent of P11,614,395,000 to aid calamity victims.

The Japan Embassy said that the loan agreement for post-disaster standby loan Phase III was signed at the recently-held 14TH Japan-Philippines high-level meeting of joint committee on infrastructure development and economic cooperation by Finance Secretary Benjamin Diokno and JICA Senior Vice President, Nakazawa Keiichiro.

The Japan Embassy also said the loan agreement amounting to 30 billion yen will be paid for a very low interest of 0.01% and can be used to help the country rebound quickly from calamities.

Diokno led the Philippine delegation that visited Tokyo where he also paid a courtesy call, along with socio-economic planning Secretary Arsenio Balisacan, to Japan Prime Minister Kishido Fumio.

The JCM is the highest meeting body tackling the bilateral economic cooperation of all sectors led by special advisor to the Prime Minister, Dr. Mori Masafumi from the Japan side and from the Philippines, Diokno and Balisacan.

In The said meeting, the two countries accepted the discussions at the 13TH JCM in November, following the accomplished agreements reached during the visit to Japan of President Ferdinand Marcos, Jr. in February.

Itchie G. Cabayan
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