Japan offers 8.7 billion USD package for Philippines

Japanese Prime Minister Shinzo Abe has announced an aid package worth one trillion JPY (8.7 billion USD) for the Philippines in the next five years to help infrastructure development.

Friday, January 13, 2017 10:35

Japan offers 8.7 billion USD package for Philippines ảnh 1

Japanese Prime Minister Shinzo Abe (L) and Philippine President Rodrigo Duterte (Photo: Reuters)

Hanoi (VNA) – Japanese Prime Minister Shinzo Abe has announced an aid packageworth one trillion JPY (8.7 billion USD), including Government support andprivate investment, for the Philippines in the next five years to helpinfrastructure development.

Thestatement was made on January 12 during PM Abe’s visit to the Philippines. Heis the first foreign leader to visit the Southeast Asian country sincePresident Rodrigo Duterte took office in June 2016.

Speakingafter talks with President Duterte, PM Abe said that Japan and the Philippinesagreed to enhance maritime cooperation.

Earlier,PM Abe said the Philippines is his first destination in 2017, affirming hispriority to bilateral cooperation. He pledged to raise the two countries’relations to a new height.

Japan is one of the biggest investors of thePhilippines, mainly in electricity, financial services and automobiles.

After his two-day visit to the Philippines, PM Abe willvisit Australia, Indonesia and Vietnam.-VNA

VNA

#Japan-Philippines #aid package #bilateral cooperation

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