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Sunday, December 15, 2013

Japan's Help Worth Php 130 Billion Rehab Fund Almost to be Completed

PNoy had announced on Sunday that the Php 130 Billion needed by the Philippines to rehabilitate devastated communities in the Visayas region is almost complete with the help of Japan, Wolrd Bank, Asian Development Bank and other Institutions. According to the president the Japanese government raised the country's standby loan from $100 million to $500 million. The Japanese government is one of the major donors for the country's relief and recovery efforts. The president has said that prior to his latest trip to Japan, the Japanese government extended a $50 million assistance to the Philippines. PNoy also reported that in his meeting with the Japanese PM Abe, Japan will extend an additional $66 million aid to the country for the immediate recovery of the Super Typhoon Yolanda devastated areas. Aside from the Japanese government different Japanese companies have pledged or extended assistance for the Philippines reconstruction efforts.  
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