THE Department of Finance (DOF) said Japan is set to turn over 27 units of heavy machinery to the Philippine government this month, to further help in the reconstruction and rehabilitation of Marawi City.
The DOF’s International Finance Group reported to Finance Secretary Carlos G. Dominguez III during its recent Executive Committee meeting that, aside from the 27 heavy machinery, 200 electric vehicles from an Asian Development Bank (ADB)-funded project of the Department of Energy will also be turned over to Task Force Bangon Marawi to help provide livelihood opportunities for residents in the conflict-torn city.
Japan’s donation of heavy equipment to Marawi City is part of Tokyo’s ¥2.5-billion or $22-million grant under the Philippine-Japan Economic and Social Development Program, which includes the support for the reconstruction of the city and the provision of coastal-monitoring radars to the Philippine Coast Guard.
During the fourth meeting of the Philippines-Japan High Level Committee on Infrastructure Development and Economic Cooperation held in Cebu City in February, representatives of both countries discussed a proposed ¥2-billion or $18-million grant from Japan still in line with the rehabilitation of Marawi City.
“The turnover of equipment would be a symbol of Japan’s strong commitment for the reconstruction of Marawi and demonstrate the robust bond between our two countries,” said Dr. Hiroto Izumi, special advisor to Japanese Prime Minister Shinzo Abe.
Both sides also agreed to “steadily implement” for the next five years their joint commitments on major fields of bilateral cooperation, particularly on the implementation of the Duterte administration’s big-ticket infrastructure projects that Japan has pledged to support through funding and technology assistance.
Dominguez said both sides look forward to the signing of the Exchange of Notes for the grant financing for the Davao City Waste-to-Energy project, as well as the loan-financing packages for the Pasig-Marikina Channel Improvement Project Phase IV and the MRT 3 Rehabilitation and Improvement Project “in the coming months and after all internal approvals are completed.”
The DOF’s International Finance Group reported to Finance Secretary Carlos G. Dominguez III during its recent Executive Committee meeting that, aside from the 27 heavy machinery, 200 electric vehicles from an Asian Development Bank (ADB)-funded project of the Department of Energy will also be turned over to Task Force Bangon Marawi to help provide livelihood opportunities for residents in the conflict-torn city.
Japan’s donation of heavy equipment to Marawi City is part of Tokyo’s ¥2.5-billion or $22-million grant under the Philippine-Japan Economic and Social Development Program, which includes the support for the reconstruction of the city and the provision of coastal-monitoring radars to the Philippine Coast Guard.
During the fourth meeting of the Philippines-Japan High Level Committee on Infrastructure Development and Economic Cooperation held in Cebu City in February, representatives of both countries discussed a proposed ¥2-billion or $18-million grant from Japan still in line with the rehabilitation of Marawi City.
“The turnover of equipment would be a symbol of Japan’s strong commitment for the reconstruction of Marawi and demonstrate the robust bond between our two countries,” said Dr. Hiroto Izumi, special advisor to Japanese Prime Minister Shinzo Abe.
Both sides also agreed to “steadily implement” for the next five years their joint commitments on major fields of bilateral cooperation, particularly on the implementation of the Duterte administration’s big-ticket infrastructure projects that Japan has pledged to support through funding and technology assistance.
Dominguez said both sides look forward to the signing of the Exchange of Notes for the grant financing for the Davao City Waste-to-Energy project, as well as the loan-financing packages for the Pasig-Marikina Channel Improvement Project Phase IV and the MRT 3 Rehabilitation and Improvement Project “in the coming months and after all internal approvals are completed.”
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