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The Department of Finance said Thursday it is set to execute around $1.5 billion-worth of pipeline projects with the Japan International Cooperation Agency for 2024-2025.DOF Undersecretary for the International Finance Group Joven Balbosa and JICA director-general of Southeast-Asia and Pacific Department Hayakawa Yuho discussed the loan agreement on April 18, 2024 at the JICA Office in Washington D.C.
The DOF and JICA particularly discussed executing a pipelined commitment of around JPY 227.6 billion from April 1, 2024 to March 31, 2025 and the annual average pipeline of about JPY 249.2 billion over the next five years from 2023 to 2027.They also tackled the timeline and preparations required to facilitate the signing of the loan agreements for projects on maritime safety, roads and flood risk management, which are targeted before the end of the year.
JICA also expressed its openness to scale up its policy-based lending, with an intent to co-finance the Climate Change Action Program , Subprogram 2 with the Asian Development Bank and Agence Française de Développement .
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