Manila: The Japan International Cooperation Agency (JICA) has extended a P2.3bn loan support for the acquisition of 10 FastCat vessels by Archipelago Philippine Ferries Corp (APFC) in an effort to support the safety measures and modernization program of the Philippine domestic shipping industry.
APFC secured JICA’s funding support from the Logistics Infrastructure Development Project of the state-run Development Bank of the Philippines (DBP) for the 10 roros.
JICA Philippines senior representative Eigo Azukizawa said the agency would continue supporting efforts of the Philippine government. “The Philippine government wants to assure safe sea travel and efficient sea based logistics, which are vital for sustainable economic development in an archipelagic country like the Philippines,” Azukizawa added. [17/04/14]