Philippines

Hanoi (VNA) – The Philippines has so far secured a total of 8.83 billion USD in borrowings, loans and grant assistance for the government's COVID-19 response efforts from its development partners and the commercial markets, China’s Xinhua News Agency reported. The Philippine Department of Finance (DOF) said on September 6 that of the total amount, 5.98 billion USD  is budget support financing from the Asian Development Bank, the World Bank, the Asian Infrastructure Investment Bank, the French Development Agency and the Japan International Cooperation Agency. A total of 2.35 billion USD was sourced from the government's latest global bond offering that fetched its lowest ever coupon in the USD market, the DOF added. The DOF said the remaining 496.36 million USD is from grant and loan financing from the Philippines' development partners for various COVID-19 specific projects. Finance Secretary Carlos Dominguez said that total government borrowings for 2020 and 2021 … [Read more...] about Philippines secures over 8.8 bln USD for COVID-19 response

Hanoi (VNA) – Philippine House Speaker Alan Peter Cayetano has stressed that unity and neighbourly cooperation are the flagship and main objectives of AIPA and ASEAN. He made the remarks while addressing the first plenary session of the ongoing 41st General Assembly of the ASEAN Inter-Parliamentary Assembly (AIPA-41), which, he said, is among the most memorable of General Assemblies since the birth of AIPA in Manila on September 2, 1977. AIPA 41 is historic not only for the reason of its virtual setting, but because it is held amidst extraordinarily challenging circumstances brought about by the COVID-19 pandemic, he said. He congratulated the National Assembly of Vietnam and its AIPA National Secretariat for surmounting the current difficulties caused by the pandemic to conduct the meeting. Alan Peter said this is an opportunity for AIPA parliaments to share experiences, learnings, difficulties, innovative measures and best practices, making them better equipped in battling … [Read more...] about Philippine House Speaker highlights AIPA-ASEAN unity

Hanoi (VNA) – The Health Ministries of the Philippines and Indonesia on September 8 reported that the two countries recorded over 3,000 new COVID-19 cases each on the day. Over the last 24 hours, the Philippines confirmed 3,281 new cases and 26 deaths, lifting its total of infections and fatalities to 241,987 and 3,916. Meanwhile, Indonesia recorded 3,046 more patients and 100 deaths, bringing the total of infections and fatalities in the country to 200,035 and 8,230 – the highest in Southeast Asia. Among Southeast Asian countries, the Philippines and Indonesia are the two most affected by the coronavirus outbreak. In his speech at the virtual 41st General Assembly of the ASEAN Inter-Parliamentary Assembly (AIPA 41) on the same day, President of the Cambodian National Assembly Heng Samrin called for strengthening international cooperation and solidarity between countries in the region to cope with the health crisis. He emphasised that the COVID-19 pandemic has caused … [Read more...] about Indonesia, Philippines confirm over 3,000 new COVID-19 cases

Hanoi (VNA) - The Asian Development Bank (ADB) has approved a 500-million-USD policy-based loan to allow the Philippines to quickly access emergency financing in the event of disasters triggered by natural hazards or public health emergencies. The Philippines has been hit by several major disasters in recent years, including typhoon Haiyan in 2013, the Taal volcano eruption in January 2020, and the ongoing COVID-19 pandemic, ADB Vice-President Ahmed Saeed said in a statement. "This new contingent disaster financing instrument will help the government manage fiscal risks posed by those shocks and lessen the economic and social impacts on people's livelihoods and the country's economy," Saeed added. ADB Financial Sector Specialist for Southeast Asia Benita Ainabe said the Disaster Resilience Improvement Programme will support government policy reforms aimed at ensuring the government to quickly address the needs of vulnerable segments of the population following disasters. It will … [Read more...] about ADB approves 500 million USD loan to boost Philippines’ disaster resilience

Hanoi (VNA) – Some Southeast Asian countries continued to record sharp rises in the numbers of COVID-19 cases on September 11, with the Philippines still the biggest hotspot in the region. The Philippine Department of Health confirmed an additional 4,040 infections of the coronavirus SARS-CoV-2, the biggest daily rise over the last 12 days, raising the COVID-19 tally in the nation to 24,947 – the highest in Southeast Asia. The country also saw 42 more related deaths, bringing the total fatalities to 4,066. Under-Secretary of Health Maria Rosario Vergeire said the Philippines is promoting the capacity of the whole healthcare system, with a focus on increasing beds at public hospitals.  The government will also increase COVID-19 testing laboratories and quarantine facilities while installing more bedrooms for medical workers, she added. In Myanmar, 115 new cases were reported on September 11, one day after new lockdown measures had been imposed in an effort to … [Read more...] about Numbers of COVID-19 cases continue increasing in some SEA nations