Finance Secretary Carlos Dominguez, on behalf of the Philippine Government, and Japan International Cooperation Agency (JICA) Chief Representative Eigo Azukizawa, on behalf of the Government of Japan, signed the JPY 50 billion (P23.5 billion) COVID-19 Crisis Response Emergency Support Loan (CCRESL) on Wednesday (July 1) at the Department of Finance (DOF) Building in Roxas Blvd. Manila.
This emergency support loan from Japan is designed as a co-financing operation complementing the Asian Development Bank (ADB)’s COVID-19 Active Response and Expenditure Support (CARES) Program alongside prospective loans from other development partners, and will form part of the 2020 Gross Financing Program as revised in light of COVID-19 response measure.