PHL obtains P3.7-B JICA loan for Typhoon Tino rehab works
THE Japan International Cooperation Agency (JICA) is providing a ¥10-billion (P3.7 billion) loan to support Philippine rehabilitation and recovery projects following Typhoon Tino.
In a statement on Jan. 20, JICA said it released the first tranche of the Post-Disaster Standby Loan Phase 3 (PDSL3), which aids the government in addressing urgent post-disaster needs and managing financial pressures during crises.
The loan disbursement had been requested by the Department of Finance after a State of National Calamity was declared due to the severe impact of the typhoon, JICA said.
Typhoon Tino left 150 people dead and affected about 4.1 million during its Nov. 4 passage.
The Philippines, one of the world’s most disaster-prone countries, faces about 20 tropical storms each year.
“By making critical funds available, the PDSL3 enables the Philippine government to sustain response operations, ensure the continuity of vital public services, and transition into early recovery and reconstruction,” JICA Chief Representative Baba Takashi said.
PDSL3, signed through a loan agreement in August 2023, is part of a ¥30-billion facility to support recovery efforts after a natural disaster.
JICA said the first phase of PDSL was triggered in 2013 following Typhoon Yolanda, followed by the second phase in 2020 during the COVID-19 pandemic.
Japan remains the Philippines’ top development partner, accounting for 33.41% of total active commitments, equivalent to $13.23 billion across 82 loans and grants in 2024. — Aubrey Rose A. Inosante
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