Japan’s Ambassador Koji Haneda signed and exchanged notes with Foreign Secretary Teodoro Locsin Jr. to formalize Phase 2 of the Post-Disaster Standby Loan (PDSL 2) on September 15.
The loan of 50 billion yen (about 24 billion pesos) aims to recover immediately from herbal and health-related errors by selling political crisis preparedness movements and offering an immediate disbursement budget for reaction to Philippine calamities. loan is set at 30 years after a 10-year grace consistent with the period, with a constant interest rate of 0. 01% consistent with the year.
Chancellor Teodoro Locsin Jr. and Japanese Ambassador Koji Haneda
This is the time when this type of special investment has been extended to the Philippine government, the first being made only a few months after the attack on Typhoon Yolanda in 2013. This PDSL 2 is the largest of Japan’s LSDP loans to upcoming countries.
Earlier this year, Japan also contributed to the Philippine Covid-19 reaction program through an assistance program that included a 2 billion yen grant for the source of medical devices and laboratory tracking sites, and another 50 billion yen in the Covid budget. 19 Crisis Emergency Response Loan.
Japan promised that it would continue to fulfill the Philippines’ wishes in its attempt to combat the Covid-19 crisis, crisis threat control efforts, and achieve faster economic recovery.
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