PH, Japan sign 5 agreements during Abe visit
The Philippines and the Japanese government on Thursday signed five agreements during the two-day official visit of Japan Prime Minister Shinzo Abe.
Among the agreements signed was the “exchange of notes on the grant of economic and social development program,” which involves a donation of 600 million yen for high-speed boats and other counterterrorism equipment for the Philippine Coast Guard.
Also signed was a memorandum of cooperation on the “low-carbon growth partnership joint crediting mechanism,” which involves the creation of a joint committee to establish the basis through which the Philippines and Japan will promote investments and the use of technologies, product-service systems and infrastructure to achieve low-carbon growth in the Philippines.
A memorandum of cooperation between the Philippine and Japanese Coast Guards was also signed to promote maritime safety, security and marine environment protection.
The Philippine Communications Operations Office and Japan’s Ministry of Internal Affairs and Communication also signed a memorandum of cooperation for the “proof of concept and testing of road traffic information system through data broadcasting.”
A loan agreement and guarantee letter for “harnessing agribusiness opportunities through robust and vibrant entrepreneurship supportive of peaceful transformation” or “Harvest” was also signed.
Harvest is a five-year project of the Land Bank of the Philippines, which shall finance eligible investments of agribusiness enterprises and farmers’ organizations.
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