Japan Cuts Aid to Philippines

Japan will provide 11 billion Philippine pesos (USD232 million) in financial assistance to the Philippines in 2010 through the Japan Bank for International Cooperation. This money is lower by 10.6 percent from the 2009 allotment of 12.3 billion Philippine pesos. The reduction is an effect of Japan's attempt to recover from the world financial crisis,

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About the author

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    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.