RP gets $1.1b loan from Japan<\/p>\n
TOKYO (AFP): Philippine Foreign Secretary Domingo Siazon and
\nJapanese Foreign Minister Yohei Kono exchanged notes yesterday
\nfor a 100.9-billion-yen (US$1.1 billion) loan package, both
\ngovernments said.<\/p>\n
The amount -- the 20th yen-loan package to the Philippines --
\ncovers 14 official development assistance projects in
\ninfrastructure, power, maritime safety, aviation, and
\nenvironment, the Japanese government said in a statement.<\/p>\n
Siazon left on Monday for Japan with Trade and Industry
\nSecretary Rizalino Navarro on a mission aimed at encouraging more
\ntrade and investment in the country, the Philippine Foreign
\nDepartment said.<\/p>\n
The trip \"will promote closer bilateral ties between Japan and
\nthe Philippines in economic cooperation, as well as in trade and
\ninvestment,\" the statement said.<\/p>\n
\"Japan will remain the top donor to this country, pledging to
\nprovide continuous assistance to the Philippine government's
\nefforts to attain sustainable economic development,\" the Japanese
\nembassy in Manila added in a statement.<\/p>\n
Japan is also the Philippines' second largest export market.<\/p>\n
The borrowing will also enjoy a reduction in interest rates,
\nfrom three percent to 2.7 percent, compared with the 19th loan
\npackage, the statement added.<\/p>\n
The Philippine team will meet with Japanese government and
\nbusiness leaders during the five-day visit.<\/p>\n
Siazon and Kono also agreed yesterday to work closely on the
\nupcoming meeting in Osaka this November of the Asia-Pacific
\nEconomic Cooperation (APEC) forum, Japanese officials said.<\/p>\n
They agreed that Japan, which chairs this year's APEC, and the
\nnext chair, the Philippines, should cooperate in drawing up an
\naction plan to liberalize trade and investment in the Asia-
\nPacific region, the officials said.<\/p>\n
Siazon and Kono also agreed yesterday that the issue of
\nnuclear testing by China and France should be taken up at an
\nAssociation of Southeast Asian Nations (ASEAN) regional forum
\nmeeting next month.<\/p>\n
\"I would like to hear other foreign ministers' opinions\" on
\nthe issue, Kono was quoted by a Japanese foreign ministry
\nofficial as telling Siazon.<\/p>\n
Siazon, in reply, said the nuclear tests were unacceptable.<\/p>\n
The ASEAN regional forum meeting is to be attended by the six
\nASEAN members -- Brunei, Indonesia, Malaysia, Philippines,
\nSingapore and Thailand -- as well as Australia, Cambodia, Canada,
\nChina, Japan, Laos, New Zealand, Papua New Guinea, Russia, South
\nKorea, the United States and Vietnam.<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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