Finance Secretary Carlos Dominguez III and Mr. Akihiko Tanaka, the President of the Japan International Cooperation Agency (JICA), sign the agreement for a 30-billion yen loan under the second phase of the COVID-19 Crisis Response Emergency Support Loan (CCRESL 2) facility. This yen loan package aims to support the Philippine government’s continuing efforts to rapidly recover from the COVID-19 pandemic and fully return its economy to the path of high, inclusive growth.

The 2nd phase of the CCRESL was signed between the two countries in recognition of the Philippines’ accomplishments and plans in vaccinating its target population against COVID-19 and expanding the capability of its healthcare system to meet the challenges of possible public health emergencies in the future.