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Japan Lends P11.5 Billion to Boost Philippine Universal Healthcare
Japan has signed an agreement to provide the Philippines with a loan of up to P11.5 billion to support its Universal Health Care program, aiming to strengthen access to health services and medical supply chains.
The Philippines and Japan have signed an agreement for a loan of up to P11.5 billion (approximately ¥11.5 billion) to support the third phase of the Philippines' Universal Health Care (UHC) program. The Department of Foreign Affairs announced the signing. The loan aims to strengthen access to health services and improve medical supply chains within the Philippines. According to the Japanese embassy, the loan carries an annual interest rate of 2.5% and will be repaid over 15 years. Promoting the UHC, a universal health insurance system, has been a long-standing challenge for the Philippines, with particular emphasis on improving healthcare access in rural areas and for impoverished populations. This Japanese support is expected to contribute to the program's advancement. Economic cooperation is a key pillar of Japan-Philippines relations. Support in areas such as infrastructure development and social security is seen as contributing to the Philippines' sustainable development and further strengthening bilateral ties.
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BusinessWorld Nation