P130-billion reconstruction fund nearly completed with Japan’s loan pledge, says President Aquino

MANILA, Dec. 15 (PNA) –The P130 billion needed by the Philippines to rehabilitate devastated communities in the Visayas region is almost complete with the help of Japan, World Bank, Asian Development Bank and other institutions, President Benigno S. Aquino III said on Sunday.

In his message after arriving from Japan, the President said that the Japanese government raised the country’s standby loan from US$ 100 million to US$ 500 million, nearly completing the fund needed for the typhoon-ravaged areas in the Visayas region.

The President went to Japan this week to attend the ASEAN-Japan Commemorative Summit and other events.

“Ididiin ko lang po: sa biyaheng ito, damang-dama talaga natin ang pagiging mabuting kaalyado at kaibigan ng bansang Hapon,” the President said.

“Noong nakaraan sa pamamagitan ng kalakal at Official Development Assistance, naramdaman natin ang kanilang suporta. Sa kasalukuyan, kung saan hinaharap pa rin natin ang mga hamon dulot ng sakuna, nariyan sila para iparamdam sa ating hindi tayo nag-iisa, at maging sa paghubog ng magandang kinabukasan, kaagapay pa rin natin sila,”

The Japanese government is one of the major donors for the country’s relief and recovery efforts. The President said that prior to his trip to Japan this week, the Japanese government extended a US$ 50 million assistance to the Philippines.

President Aquino also reported that in his meeting with Japanese Prime Minister Shinzo Abe, Japan will extend an additional US$ 66 million aid to the country for the immediate recovery of typhoon-devastated areas.

Aside from the Japanese government, different Japanese companies have pledged or extended assistance for the Philippines’s reconstruction efforts. (PNA)