Guess what? Japanese PM Shinzo Abe and the Japanese government is pouring in ¥1 trillion to the Philippines as economic assistance to the Duterte government and the Filipino people.
Like you and me, people are interested who will benefit from this mind-blowing amount of money. Generally speaking, the entire Filipino nation will benefit from the economic fallout of this huge investment.
In the spirit of transparency, Malacanang has released an official statement to give the public an idea how the money will be spent.
Thanks to Dr. Lorraine M. Badoy, who shared Malacanang’s statement in full.
I want to make you guys smile. Like really really smile. So I am sharing with you this piece of news fresh from Malacañang. It is official and final: (copy pasting, hope you don’t mind. Some of us have to work no. :D):
Japan to infuse 1 trillion yen support to the Philippines in the creation of business opportunities, to be released in the next 5 years, to include a Japanese Official Development Assistance and private investments in our country.
This was announced by Japanese Press Secretary Yasuhisa Kawamura.
Kawamura who is in the country with visiting Japanese Prime Minister Shinzo Abe, spoke at a press briefing in Malacanan for local and foreign media on Thursday, January 12.
The Japanese Press Secretary said to realize this 1 trillion support to the Philippine economy, Japan would establish a joint committee on economic cooperation and infrastructure and would also send experts to the National Economic Development Authority.
He also said Japan will contribute to infrastructure development in the Philippines in transportation and electric generation by taking advantage of the Japanese technology.
Kawamura said Japan will spur the development of Davao City and the conflict affected areas in the country through support in irrigation, road construction, power generation and education.
To strengthen the security of the country and its anti-terrorism efforts, Japan will provide security related equipment, according to Kawamura.
The Japanese official said in the area of maritime security and defense, Japan will support through capacity building, equipment and training exercises.
Kawamura also expressed Abe’s desire to cooperate proactively on the issues of the region together with the Philippines as the Chair of ASEAN.
“The ASEAN’s solidarity and centrality should be strengthened and it is important to develop ASEAN as an open community,” said Kawamura.
On the South China Sea, Kawamura underscored the importance of the rule of law and its peaceful resolution.
Commenting on Prime Minister Abe’s visit to Davao particularly to the hometown of President Rodrigo Roa Duterte, he said that is something the Prime Minister is really looking forward to.
Finally, Kawamura repeated what President Duterte said during the latter’s official visit to Japan: “Japan and the Philippines are not simply friends but we are more than that. We are brothers.”
“So this represents how our two countries are close in terms of relations. This is an eloquent reflection of the existing confidence, trust to the Philippines,” added Kawamura.
So many of us smiling now.
Yey, my country! We are getting there!
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