Japan fulfills P476 billion funding pledge to Philippines

MANILA, Philippines — The Japanese government has delivered its commitment to provide about P476 billion in funding to the Philippines over the last five years.

As the two countries celebrate 65 years of diplomatic relations, Japanese Prime Minister Yoshihide Suga said Japan successfully fulfilled its five-year commitment to public and private financing of one trillion yen (P476 billion) to support the Philippines.

It was in January 2017 when then Japanese prime minister Shinzo Abe visited the Philippines and committed to President Duterte one trillion yen in assistance over the next five years or until 2021.

This includes official development assistance and private sector-led investments.

The funding package covered five major sectors including life protection and capacity development, infrastructure development, peace and stability, production and employment, and solutions to social issues.

For capacity development in healthcare, Japan provided assistance for COVID-19 response and emergency financial support, medical equipment, disease control and vaccination.

Over the past five years, the East Asian powerhouse also helped in education and skills development, livelihoods, environment and disaster risk reduction.

Further, Japan is financing big-ticket infrastructure programs under the Build Build Build program such as the country’s first ever Metro Manila Subway, MRT Line 3, North-South Commuter Railway, Bohol-Panglao Airport, Cebu-Mactan Bridge and the Davao Bypass Road.

To ensure stability and peace in the country, Japan supports reconstruction in war-torn Marawi City and other assistance for the Philippine National Police and Philippine Coast Guard.

In his message, Suga said the relation between the two nations has never been stronger amid successful collaborations throughout the years.

“Our strategic partnership is founded on shared universal values such as freedom, democracy, and the rule of law, and has entered its ‘golden age,” Suga said.

“Both of our countries, being maritime nations, value the idea that a rules-based free and open maritime order brings peace and prosperity to the region. With a view to realizing a free and open Indo-Pacific, Japan will continue to advance cooperation in a proactive manner,” he said.

For his part, President Duterte emphasized that “Japan is a friend closer than a brother.”

He said the bilateral relationship of Japan and the Philippines is among those that are deeply transformative, and one that is marked by one triumph after another.