JICA disburses ¥10-B post-disaster standby loan to the Philippines

The Japan International Cooperation Agency (JICA) on Tuesday disbursed another ¥10 billion, or roughly P4.7 billion, to the Philippines under its Post Disaster Standby Loan 2 (PDSL 2) in support of families affected by the typhoons in the last quarter of 2020.

In a statement, JICA said the disbursement followed the Philippine government's declaration of a state of calamity across the entire island of Luzon due to Typhoons Quinta, Rolly, and Ulysses.

The typhoons caused widespread devastation, destruction, and damage to infrastructure and agriculture, and disrupted lives and economic activities.

“As a friend and trusted partner of the Philippines, JICA stands by Filipinos whose lives were disrupted because of the recent natural disasters. Through the JICA post-disaster assistance, we hope that vulnerable sectors affected will find relief and support to recover their livelihood and income through the spirit of ‘bayanihan’ in these difficult times,” said JICA Philippines chief representative Eigo Azukizawa.

Under Republic Act No. 10121 or the Philippine Disaster Risk Reduction and Management Act, a declaration of a state of calamity will help hasten rescue, relief, and rehabilitation efforts of the government and the private sector, as well as hasten international humanitarian assistance to the Philippines.

JICA said the ¥10-billion disbursement forms part of the ¥50-billion loan extended to the Philippines on September 15, 2020 to ensure contingency funds are available for the country’s response to the financial demands of post-disaster recovery in case of natural disasters and public health threats.

“As partners for inclusive development, JICA is supporting the Philippines with available financial resources to mitigate the impact of natural disasters and health crisis. We’re making it clear that we’re in this together and that JICA will support development partners who need our assistance,” Azukizawa said.

JICA said an earlier ¥10-billion was disbursed to the Philippines to support response and recovery efforts from the pandemic following the extension of the state of calamity throughout the Philippines due to COVID-19 under Proclamation No. 929 on September 16, 2020.

In addition to PDSL 2, JICA has supported the Philippines with a ¥50-billion COVID-19 Crisis Response Emergency Support Loan signed on July 1, 2020 and released on August 14.

In 2013, JICA also provided PDSL to the Philippines’ recovery from Typhoon Yolanda, helping families recover lost income and rebuild their lives. — DVM, GMA News