Japan Pledges 1 Trillion Yen Aid Package to Philippines

Japan Pledges 1 Trillion Yen Aid Package to Philippines

Japan’s Prime Minister Shinzo Abe on January 13, 2017 signed a 1-trillion yen (8.7 billion dollars) aid package to the Philippines for the next five years to improve economic and political relations between the two island nations. The package is focused on infrastructure and energy. The move aims to utilize

the Japanese technology and know-how to the fullest extent to positively cooperate for the improvement of infrastructure in Metro Manila and the whole of the Philippines. The President of Philippines,  Rodrigo Duterte also issued a statement claiming that JapanPhilippines and Japan would increase maritime and security cooperation.

iv. Abe’s was two-day visit to the Philipinnes which makes him the first foreign leader to visit since the election of the Philippines’ President Rodrigo Duterte in May 2016.