Japan to release P450M for Camiguin rehab
abs-cbnNEWS.com | 07/02/2009 1:05 PM
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The Japan International Cooperation Agency (JICA) has signed a grant agreement with the Philippine government for a multi-million rehabilitation project of Camiguin Island.
The government of Japan, through JICA, will be releasing P450-million fund for "sustainable economic growth and improve the standard of living in Camiguin," the National Economic and Development Authority (NEDA) said in a statement.
The aid fund was announced after JICA and NEDA signed a grant agreement in Tokyo, Japan for the project for Flood Disaster Mitigation in Camiguin Island last June 19.
The NEDA said the fund will be used for the enhancement of security and reliability of the main highway of the island province, the improvement of agriculture-based economy and tourism, and the improvement of Sabo and flood control works.
It said the project will also aims to rehabilitate the Sabo Dams and reconstruction of the Hubangon Bridge that have been damaged by natural disasters in the past years. Particular municipalities that will benefit from the project are Manbajao, Mahinog, Catarman, Sagay and Guinsiliban.
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