Germany will provide some 7 million euros (USD9.32 million) worth of fresh funds for small and medium-sized businesses in the Philippines’ Caraga region, the Manila Bulletin reports. This new loan brings Germany’s total funding to the Philippines to 876 million euros. Pit Helman, Germany’s representative to the Philippines, said during the announcement of the assistance package that Germany will continue providing aid to the Philippines, particularly in strengthening local governments.
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About the author
Ivy Mungcal
As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.
