Ambassador Haneda signed and exchanged notes for the Project for Improving Flood Forecasting and Warning System for Cagayan de Oro River Basin and the Japanese Grant Aid for Human Resource Development Scholarship (JDS) Project

Japan Information and Culture Center (JICC) - Press Release No. 28- 2018

Japanese Ambassador Koji Haneda and Foreign Affairs Secretary Alan Peter S. Cayetano signed and exchanged notes on the Project for Improving Flood Forecasting and Warning System for Cagayan de Oro Basin and on the Japanese Grant Aid for Human Resource Development Scholarship (JDS) Project on June 13, 2018.
 
The first Exchange of Notes signed will provide a JPY 1.278 billion yen (approximately 608 million pesos*) grant for the Project for Improving Flood Forecasting and Warning System for Cagayan de Oro River Basin.  Japan’s grant is expected to substantially improve information accuracy and provide technical support to the CDO operational system for flood forecasting and disaster prevention.  This project will strengthen the ability of CDO against future risks of flash floods, mud slides and other negative impacts, thus contributing to sustainable development in the region.

The second Exchange of Notes signed will provide 563 million yen** (approximately 268 million pesos*) to cover 20 JDS fellows in 2018 and 22 JDS fellows in 2019, consisting of Filipino young officials from various governmental institutions, entering Japan starting Academic Year 2018 and 2019.  The project aims to enhance the JDS fellows’ expertise in their respective fields and to help build a pool of future Filipino leaders who will greatly contribute to the country’s overall economic development by returning to and working in the Philippines.  To date, the Philippines has a total of 319 JDS fellows.
 
** From BSP: PHP-JPY Exchange Rate = 0.4755 (2018 May average)
** 238 million yen (approximately 113 million pesos) in 2018 and 325 million yen (approximately 155 million pesos) in 2019