PH seeks more Japan loans to bolster COVID-19 vax drive

Metro Manila (CNN Philippines, February 16) – The Philippines is hoping to secure additional loans worth 30 billion yen (about £13 billion) from the Japanese government to support its mass vaccination campaign against COVID-19, the finance ministry said on Wednesday.

In a statement, the DOF said the proposal was presented at the 12th meeting of the Philippines-Japan High-Level Joint Committee on Infrastructure Development and Economic Cooperation held online.

“During the meeting, the two parties discussed the proposal for additional financial support of 30 billion yen from Japan under the 2nd COVID-19 Crisis Response Support Loan (CCRESL 2) for help cover the funding for the ongoing national immunization program in the Philippines,” he said. .

On Monday, the government fully vaccinated 61.4 million Filipinos, including 8 million teenagers, against COVID-19.

The Duterte administration aims to fully inoculate about 77 million Filipinos in the first quarter and 90 million by the end of the second quarter.

Finance chief Carlos Dominguez III said he expected the Japanese government to remain a “valuable partner” for the Philippines.

Since 2017, Japan has granted 1.38 trillion yen to the country, even exceeding its commitment of 1 trillion yen, according to Mori Masafumi, special adviser to Prime Minister Fumio Kishida of Japan.

“Between the first meeting of the joint committee in 2017 and today, a lot has been started, achieved and will continue,” said Dominguez.

“We thank Mr. Mori Masafumi, Special Advisor to Prime Minister Fumio Kishida, for conveying Japan’s strong commitment to continue supporting the Philippines’ infrastructure development, COVID-19 response, and other development initiatives. development,” the finance secretary said in a statement. Posting on Twitter.

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