SBMA wants ¥1.2-B loan canceled
WITHOUT explaining why no disbursements had been made from Japan’s Official Development Assistance (ODA) funding of its Freeport Environmental Management Project II, the Subic Bay Metropolitan Authority (SBMA) has asked that the loan be canceled.
This was reported by the National Economic and Development Authority (Neda) on Tuesday, adding it has forwarded the SBMA request to the Department of Finance.
Total project cost was estimated at ¥1.2 billion with ¥1.03 billion from Japanese ODA loan. It was supposed to rehabilitate existing landfills and procure waste-treatment equipment to enable the SBMA to handle increasing volumes of garbage.
The Neda Project Monitoring Staff (PMS) has reported that total cancellations in the first quarter mounted to $51.9 million, all of which are loans from Tokyo through the Japan International Cooperation Agency (Jica).
It said the SBMA cancellation is only one of the projects included in the first-quarter tally of projects with closed loans.
This has decreased the loan balance of Jica-funded projects to $1.36 billion. The beginning undrawn balance of Jica loans at the beginning of 2009 was at $1.41 billion.
The total loan balance of the Philippines at the start of 2009 amounted to $3.34 billion. This included loans from Jica, the Asian Development Bank, World Bank, China, and other ODA sources. C. Ordinario - Business Online
This was reported by the National Economic and Development Authority (Neda) on Tuesday, adding it has forwarded the SBMA request to the Department of Finance.
Total project cost was estimated at ¥1.2 billion with ¥1.03 billion from Japanese ODA loan. It was supposed to rehabilitate existing landfills and procure waste-treatment equipment to enable the SBMA to handle increasing volumes of garbage.
The Neda Project Monitoring Staff (PMS) has reported that total cancellations in the first quarter mounted to $51.9 million, all of which are loans from Tokyo through the Japan International Cooperation Agency (Jica).
It said the SBMA cancellation is only one of the projects included in the first-quarter tally of projects with closed loans.
This has decreased the loan balance of Jica-funded projects to $1.36 billion. The beginning undrawn balance of Jica loans at the beginning of 2009 was at $1.41 billion.
The total loan balance of the Philippines at the start of 2009 amounted to $3.34 billion. This included loans from Jica, the Asian Development Bank, World Bank, China, and other ODA sources. C. Ordinario - Business Online
posted by OlongapoCity Zambales at
4:07 AM
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