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By APD writer Melo M. Acuña
MANILA – The Philippines is set to explore additional opportunities for financing and technical support from japan as the Duterte government increases it thrusts to implement its “Build, Build, Build” program.
Finance Secretary Carlos G. Dominguez said his bilateral meeting with Japanese Foreign Affairs Minister Toshimitsu Motegi focused on plans to do more frequent consultations with the Japanese government as the Philippines continues to achieve rapid and inclusive economic growth.
He said he also thanked Japan and its citizens for playing an important role in the Philippines’ economic and development strategies.
“As our ambitious ‘Build, Build, Build’ infrastructure program accelerates this year, we see more opportunities for financing and technical support from the government of Japan,” Secretary Dominguez said at the opening of his bilateral meeting with Minister Motegi at the Department of Finance (DOF) office in Manila earlier today.
Minister Motegi said the relationship between the Philippines and Japan under the leadership of President Rodrigo Duterte and Prime Minister Sinzhō Abe has reached its “golden age’ where both countries enjoy broad-based and multi-layer development, including in the economy, infrastructure development, security and people-to-people exchanges.
He also expressed his condolences and sympathies to the victims of last year’s earthquakes in Mindanao and offered Japan’s support, knowledge and experience in disaster response and risk reduction.
“Under the recently launched Overseas Loan and Investment Initiative for ASEAN, we are ready to mobilize US$3 billion from public and private sectors over the next three years, including a total of US$1.2 billion in overseas loans and investments for ASEAN by JICA (Japan International Cooperation Agency). Let us continue to jointly discuss how to formulate development projects that can be the subject under this initiative,” Minister Motegi said.
He added Japan’s support for Mindanao is another important part of Japan’s cooperation with the Philippines as he offered support for the development of the new Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
Regarding the trilateral cooperation between the Philippines, Japan and the Asian Development Bank, Secretary Dominguez said he looks forward to continue the comprehensive partnership with the multilateral institution with the support of incoming ADB President Masatsugu Asakawa, who is set to assume the Bank’s top post next week.
Minister Motegi thanked the Philippines for its support for Mr. Asakawa’s nomination to the ADB presidency and added Japan would like to further deepen the trilateral cooperation among ADB, Japan and the Philippines.
To date, Japan remains the Philippines’ leading source of ODA.
(ASIA PACIFIC DAILY)
