Japanese Ambassador Makoto Katsura and Secretary of Foreign Affairs Alberto Romulo signed and exchanged notes for two (2) ODA loans and three (3) grant aid projects on March 15, 2010 at the Department of Foreign Affairs.
The signing and exchanging of notes officially marked the appropriation of approximately 23.1 billion yen (approximately 11.8 billion pesos) for the two (2) loans, namely, the Development Policy Support Program 3 (DPSP3) and the Emergency Budget Support Japanese ODA Loan. In addition, the signing and exchanging of notes officially marked the appropriation for the following three (3) Grant Aid projects. First, 1.5 billion yen (approximately 770.3 million pesos) was marked for the Project for the Programme for the Improvement of Capabilities to cope with Natural Disasters Caused by Climate Change . Second, 600 million yen (approximately 308.1 million pesos) was marked for the Project for Introduction of Clean Energy by Solar Electricity Generation System. Finally, approximately 1.09 billion yen (approximately 559.2 million pesos) was marked for the Project for Upgrading of Aurora Memorial Hospital. The total amount of the above-mentioned ODA loans and grant aid projects is approximately 26.3 billion yen (approximately 13.5 billion pesos).
The Development Policy Support Program 3 (DPSP3) aims to support the initiatives of the Government of the Philippines in the areas of 1) macroeconomic and fiscal stability, 2) improvement of governance in public expenditure management and anti-corruption measures, 3) enhancement of investment climate and infrastructure, and 4) other reforms to promote social development. This loan is a co-finance with the Asian Development Bank (ADB). The Emergency Budget Support Japanese ODA Loan aims to provide necessary financial resources for the Government of the Philippines in implementing its economic policy necessary to achieve its economic growth amid globally challenging circumstances. The total amount of the above two loans is approximately 23.1 billion yen.
In addition to addressing the issues of the overall macroeconomic and policy reforms, Japan is firmly determined to support the Philippines' efforts to adapt to climate change through financial assistance and technology transfer under the “Hatoyama Initiative.” The following two (2) grant aid projects embody Japan's policy under the “Hatoyama Initiative.”
The Project for the Programme for the Improvement of Capabilities to cope with Natural Disasters Caused by Climate Change is the grant aid project (1.5 billion yen) 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 Project for Introduction of Clean Energy by Solar Electricity Generation System is another grant aid project (600 million yen) that aims to promote the efforts by the Government of the Philippines 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.
Finally, Japan is also firmly determined to assist the people in need for basic social services including health and medical care. The Project for Upgrading of Aurora Memorial Hospital is another grant aid project (approximately 1.09 billion yen) that assists the upgrading of the Aurora Memorial Hospital in Aurora Province. While the existing Aurora Memorial Hospital has only twenty-five (25) beds, this project is going to reconstruct the hospital to increase the number of beds to fifty (50) and to strengthen its function as an important hospital in the region.
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.
Speech of Ambassador Makoto Katsura
Japanese Version
