PH, Japan exchange notes on loan assistance package for PH COVID-19 response

July 1, 2020

Foreign Affairs Secretary Teodoro L. Locsin, Jr. and Japanese Ambassador Haneda Koji exchanged diplomatic notes in simple rites today at the Department of Foreign Affairs, on the JPY 50-billion loan assistance package extended by the Japanese government to support the Philippines’ emergency response to COVID-19 as well as related social protection, relief, and economic recovery stimulus measures.

The COVID-19 Crisis Response Emergency Support Loan (CCRESL) is to be co-financed by the Asian Development Bank’s COVID-19 Active Response and Expenditure Support (CARES) Program as well as other development partners.

Japan Foreign Minister Motegi Toshimitsu had personally affirmed Japan’s commitment to extending this assistance to Secretary Locsin in their telephone discussion on 22 May.

The package is consistent with Japan’s pledge to assist the Philippines and the larger ASEAN region in recovering from the impacts of COVID-19, and building public health and economic resilience against future such emergencies.

Japan is the Philippines’ top ODA partner for decades, with its long history of support for Philippine development priorities spanning infrastructure, health, human resources, agriculture, education, humanitarian assistance and disaster relief, among many others.