RP to get $2.7b in new loan

Thu, 25 Mar 1999, 00:00 WIB | Source: REUTERS

TOKYO (Reuters): Japan will pledge fresh loans worth around
$2.75 billion to the Philippines this week, a Foreign Ministry
spokeswoman said on Wednesday.

She quoted Foreign Minister Masahiko Komura as saying Japan
would announce at the consultative group meeting for the
Philippines on Wednesday and Thursday new loans worth $1.6
billion to be extended through the Export-Import Bank of Japan.

In addition, at the same meeting, Japan would pledge another
135 billion yen ($1.15 billion) in loans to the Southeast Asian
country, the spokeswoman said.

Those loans will be made in addition to a previously promised
36.3 billion yen in yen loans and 14.5 billion yen in grants and
technical assistance, the spokeswoman added.

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