The Japanese government disbursed on Tuesday another 10-billion yen (about P4.67 billion or $91.79 million) loan to the Philippines under the second phase of its Post Disaster Standby Loan 2 program that will support efforts to rehabilitate areas devastated by a series of typhoons in the fourth quarter of 2020, Finance Secretary Carlos Dominguez III said Wednesday.
Dominguez said in a statement the financial support would help cover the funding needed to help families get back on their feet and rebuild communities following the destruction left by typhoons Quinta, Rolly, and Ulysses in October and November last year.
This disbursement on Jan. 5 brought to 20 billion yen (about P9.33 billion or $183.58 million) the funds released so far by Japan to the Philippines under PDSL 2.
“On behalf of the Philippine government, I express my gratitude to the people and government of Japan for helping our country swiftly mobilize financial resources for the massive rehabilitation efforts in the areas pummeled by typhoons Quinta, Rolly, and Ulysses,” Dominguez said.
