PH, SoKor sign US$1-B soft loan deal for infra

MANILA -- The Korean Embassy in Manila said over the weekend the Korean government is funding most of the US$199million New Cebu International Container Port Project through an official development assistance (ODA) recently clinched with the Philippine government.

The Philippine and South Korean governments signed on Friday a US$1-billion Framework Arrangement Concerning Loans from the Economic Development Cooperation Fund (EDCF) to finance Philippine infrastructure projects.

The Korean Embassy said the proposed container port in Cebu is the first project to be funded under the framework arrangement through a US$173-million loan from the EDCF.

The project aims to decongest the existing Cebu International Port by constructing a new container port in Consolacion, Cebu.

The Department of Foreign Affairs (DFA) said the Framework Arrangement effectively doubles Korea’s previous 2011 commitment of US$500 million, and extended the time to avail of it from three years (2011 to 2013) to five years (2017 to 2022).

South Korean Ambassador to Manila Han Dong-man and Foreign Affairs Secretary Alan Peter Cayetano signed the document on behalf of Korea and the Philippines at the DFA-Pasay building.

Han said the signing marks an “important milestone” for deepening the two nations’ bilateral ODA and infrastructure cooperation.

Cayetano hailed South Korea’s “heightened engagement” need to find innovative ways to generate power in an economically, environmentally and sustainable manner.

ADB estimates US$ 14.7 trillion worth of investments will be required for the energy infrastructure to meet region’s needs. The amount includes expansion of energy services to unserved areas, as well as to address the needs of the 12 percent of Asia’s population still without access to in the Philippines’ development as evident in the newly signed Framework Arrangement.

“We note and highly appreciate the confidence that the government of the Republic of Korea has shown by doubling the previous amount and duration of access from the previous Framework Arrangement, which was signed in November 2011,” the official said.

Recent major projects funded by the EDCF are the Panguil Bay Bridge connecting Tangub City and the municipality of Tubod, and the Puerto Princesa Airport Development Project that improved the existing airport in the city through the construction of a new passenger terminal complex.

Also included was the Samar Pacific Coastal Road Project, creating an inter-provincial link that completed the circumferential road loop of Samar Island.

The EDCF was established by the Korean government in June 1987 under the Ministry of Strategy and Finance and is being administered by the Export-Import Bank of Korea. Through the EDCF, bilateral loans were offered to the Philippines as early as 1988.

According to the Korean Embassy, the Philippines stands as the third largest EDCF partner of South Korea.

South Korea, on the other hand, is the sixth largest source of ODA among bilateral and multilateral partners of the Philippines, with US$570.60 million of active ODA, broken down into US$470.74 million and US$89.86 million for loans and grants, respectively. (PNA) energy.

“We encourage (the use of) renewable energy,” Zhai added.

For Zhai, achieving 100 percent renewable

MANILA -- Asian Development Bank (ADB) President Takehiko Nakao is rallying for women empowerment in business, saying this has been among the bank’s agenda.

“How can women do as much as men can do, or even better?” he asked in a seminar during the 51st ADB annual meeting at the ADB headquarters in Ortigas Center on Thursday, May 3.

“At ADB, for instance, we are trying to encourage women’s involvement in infrastructure. We encourage them to go to work,” Nakao added.

Nakao said ADB targets to have 40 percent of its staff composed of women.

“We have already achieved 35 percent. We need role models,” he said.

In a video it presented in the seminar, the regional development bank electricity may be feasible in many developing countries. He also sees an accelerated deployment of solar and wind power, electric vehicles and smart said increasing opportunities for women would add billions to the economy. Women must be provided with capital, is stressed.

The ADB on Thursday conducted a seminar entitled “Breaking Barriers: Women Entrepreneurs in Asia and the Pacific.”

Here, the panelists, mostly women, shared their observations and their own experiences.

For Yumiko Noda, president of Veolia Japan K.K., she noticed that while Japan is a very advanced country, “it is kind of left behind in terms of women diversity”, although it is somewhat improving in this regard.

For panelist Zenaida Maglaya, Philippines’ Department of Trade and Industry Undersecretary, there is a need for more awareness of their capabilities.

The availability of information and access grid technology.

In 2017, the ADB has launched the New Energy Leaders Program, which gathered energy entrepreneurs and innovators MANILA. Secretary of Foreign Affairs Alan Peter Cayetano and the Republic of Korea Ambassador Han Dong-man signed on Friday, May 4, the US$1-billion Framework Arrangement Concerning Loans from the Economic Development Cooperation Fund for the Years 2017 through 2022 to finance Philippine infrastructures. to information are quite lacking, she added.

Maglaya also cited the lack of confidence among some women.

“There are men who don’t allow their wives to do business in their homes. Thus, we need to bring in facilities, so women could do business in their homes, so they will not need to leave their kids at home,” she said.

Globally, there are about 100 countries that limit the kinds of job for women, according to International Labor Organization Director Graeme Buckley.

Bangladesh Federation of Women Entrepreneurs president, Rokia Afzal Rahman, shared that the government of Bangladesh is supportive.

“Banks have opened windows for women. There’s also free education for girls up to age 12,” Rahman shared. across Asia.

“We have highlighted seven new energy leaders (under this program). These are the people who can look into the future,” remarked David Elzinga, ADB senior Energy specialist, during the meeting.

Elzinga said the ADB was looking for new and innovative approaches that it can use in the future when it launched the Energy Leaders Program.

“The program also aimed to raise awareness on the practical challenges the energy sector is facing, and to help key stakeholders understand better how they can help support clean energy entrepreneurship and innovation in Asia,” he added.

Meanwhile, Elzinga said the Asia Clean Energy Forum (ACEF) will happen next month at the ADB headquarters.

With the theme, “Harnessing Innovation to Power the Future”, the ACEF will serve as the region’s avenue to gather practitioners, innovators and implementers to discuss, identify and address key clean energy challenges, as well as successes and innovations across the region.

Last year, the ACEF gathered over 1,400 participants from 71 countries from Asia and other parts of the world. (PNA)

“Women need the chance to prove themselves,” noted Rahman.

Maglaya remarked that women are more passionate in what they do, and are more willing to learn.

Giving women a better chance also means they should be provided with better access to capital, said Buckley.

Women also need role models and mentors, emphasized Noda.

Fransiska Hadiwidjana, chief executive officer of Prelo, an Indonesian enterprise offering retail sharing e-platform, also noted that entrepreneurs need mentors.

“I’ve been mentored when I was starting, and so I started mentoring other entrepreneurs as well,” she said.

The ADB chief, for his part, said we need to have a more friendly society. (PNA)