Japan offer of largest 1Trillion-Yen ODA package, “historic,” says PHL economic team

QUEZON City, Philippines (Eagle News) — President Rodrigo Duterte’s economic managers consider the 1 trillion yen official development assistance (ODA) promised by Japan as “historic”.

Finance Secretary Carlos Dominguez III said that he believes that the ODA – which is equivalent to Php 441 billion – is the largest in the history of the Philippines.

More conservative estimates peg the equivalent amount to Php 433 billion.

Trade Secretary Ramon Lopez, on the other hand, said that the ODA is equivalent to the promised aid to be given by China for infrastructure projects in the country.

The ODA was announced by Japanese Prime Minister Shinzo Abe during his joint statement with President Duterte at the Malacañang Palace on Thursday, January 12, on the first day of his two-day official visit to the country.

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