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Tokyo's loans allow Manila to build solar panels, improve weather forecasts
Japan offered long-term, low-interest rate loans to the Philippines, allowing Manila to build a solar generation system, improve weather forecasting, and provide additional beds to a hospital in Aurora province. Under the ‘Hayotama Initiative,’ Manila is expected to receive P13.5 billion worth of overseas development assistance (ODA) funds from Tokyo, the website of the Japanese Embassy in the Philippines said. Two projects under the said initiative will support Manila’s efforts to adapt to climate change through financial assistance and technology transfers. Worth Y600 million, the first grant aid project — the Project for Introduction of Clean Energy by Solar Electricity Generation System — intends to promote Philippine government moves to address climate change with the improvement of access to clean energy. “In this project, Japan assists the installation of solar photovoltaic power generation systems in the compound of the Department of Energy and Philippine National Oil Company," the Embassy said. Moreover, the Project for the Programme for the Improvement of Capabilities to cope with Natural Disasters Caused by Climate Change is the grant aid project (Y1.5 billion) that aims to support the Philippines’ efforts to mitigate disaster related to climate change. “In this project, Japan provides the flood forecasting and warning systems and other disaster prevention equipment for relevant agencies including the Philippine Atmospheric, Geophysical, and Astronomical Services Administration (PAGASA)," the Japanese Embassy said. Japan also expressed determination to assist the people in need for basic social services including health and medical care. It said the Project for Upgrading of Aurora Memorial Hospital is another grant aid project (Y1.09 billion) that assists the upgrading of the Aurora Memorial Hospital in Aurora Province. “While the existing Aurora Memorial Hospital has only 25 beds, this project is going to reconstruct the hospital to increase the number of beds to 50 and to strengthen its function as an important hospital in the region," the website said. “Japan has been the top ODA donor country to the Philippines since long time ago. The above-mentioned projects will certainly assist the Philippines’ nation building efforts, and enhance further the strategic partnership between the two countries," it added. Similarly, the Emergency Budget Support Japanese ODA Loan aims to provide necessary financial resources for the Philippines in implementing its economic policy necessary to achieve its economic growth amid globally challenging circumstances. Under the same agreement, the Japanese government will appropriate Y23.1 billion (P11.8 billion) for the Development Policy Support Program 3 (DPSP3) and the Emergency Budget Support Japanese ODA Loan. DPSP3 aims to support the Philippine government’s efforts the areas of macroeconomic and fiscal stability, improvement of governance in public expenditure management and anti-corruption measures, enhancement of investment climate and infrastructure, and other reforms to promote social development. This loan will be co-financed with the Asian Development Bank (ADB). Philippines’ Department of Foreign Affairs (DFA) Secretary Alberto Romulo and Japanese Ambassador Makoto Katsura signed and exchanged notes regarding two ODA loans and three grant aid projects recently. In addition, the signing and exchanging of notes officially marked the appropriation for three grant aid projects, including:
- Y1.5 billion (P770.3 million) for the Project for the Program for the Improvement of Capabilities to cope with Natural Disasters Caused by Climate Change;
- Y600 million (P308.1 million) for the Project for Introduction of Clean Energy by Solar Electricity Generation System; and
- Y1.09 billion yen (P559.2 million) for the Project for Upgrading of Aurora Memorial Hospital.
