PH secures P7.8 B loans from Japan Packages target 2 Coast Guard vessels, ARMM agribusiness Share it! The yen loan deals from Japan International Cooperation Agency included 16.455-billion-yen loans for the acquisition of two large-scale patrol ships for the Philippine Coast Guard (PCG) and 4.928-billion-yen loans for assistance in agribusiness activities in Mindanao. The first yen loan deal involves the construction of two patrol ships that will be given to the PCG as part of the Maritime Safety Capability Improvement Project. The annual interest loan of the yen loan package is pegged at 0.1 percent with a repayment period of 40 years. “Japan supports the endeavors of President Duterte with regard to peace in Mindanao,” he said in his remarks.

Source: Manila Bulletin October 27, 2016 04:22 UTC