Monday, October 5, 2015

JICA aid to help power sector recover from calamities

Business World Online
Posted on October 05, 2015 07:45:00 PM

THE JAPAN International Cooperation Agency (JICA) will help address the resiliency of the energy distribution sector, which suffered massive structural damage from typhoon Yolanda in 2013.

According to National Economic and Development Authority data, the power sector sustained P6.83 billion worth of damage in the wake of Yolanda. Of the total, the distribution system accounted for P5.2 billion, indicating “the severe vulnerability of the country’s electrical distribution facilities against strong typhoons,” JICA said in a statement.

“Since Japan, and other Asian countries like the Philippines are prone to natural disasters, it is timely to introduce Japan’s countermeasures against disasters to address economic and social losses, boost long-term competitiveness, and reduce the potential fiscal and financial burden of the central and local governments,” said JICA Philippine Chief Representative Noriaki Niwa.

A preliminary evaluation of the country’s disaster resiliency has been performed by JICA, using Japan’s Business Continuity Management rating system.

“Based on the rating developed and now being implemented by the Development Bank of Japan, Inc., an electric cooperative can then access preferential terms and conditions for loans to optimize disaster recovery,” it said. -- Nicolo Paolo A. Pascual source

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