Japan Commits US Dollars Loan for Mindanao Road Network
2019/1/18
Japan Information and Culture Center (JICC) - Press Release No. 06- 2019
1. On January 18, Mr. Koji Haneda, Japanese Ambassador, pledged the provision of a US Dollars loan for the Road Network Development Project in Conflict Affected Areas in Mindanao (total loan provision of up to 202.04 million US dollars) to Mr. Mark A. Villar, Secretary of Public Works and Highways. Based on this pledge, the Government of Japan and the Government of the Philippines are scheduled to sign an exchange of notes concerning the loan in the future.
2. Overview of the target projects
Road Network Development Project in Conflict Affected Areas in Mindanao (Provision of loan of up to 202.04 million US dollars)
This project will contribute to improve logistics, stimulate economic activity and strengthen access to the region with the construction and refurbishment of roads and bridges in the conflict-affected areas of Mindanao. The implementation of this project is expected to contribute to peace and development in the area.
3. Loan terms
(1) Rate of Interest : USD LIBOR (6 month) +105bp
(2) Repayment period : 18 years after the grace period of 7 years
(3) Procurement terms : General untied
2. Overview of the target projects
Road Network Development Project in Conflict Affected Areas in Mindanao (Provision of loan of up to 202.04 million US dollars)
This project will contribute to improve logistics, stimulate economic activity and strengthen access to the region with the construction and refurbishment of roads and bridges in the conflict-affected areas of Mindanao. The implementation of this project is expected to contribute to peace and development in the area.
3. Loan terms
(1) Rate of Interest : USD LIBOR (6 month) +105bp
(2) Repayment period : 18 years after the grace period of 7 years
(3) Procurement terms : General untied
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