The Solomon Islands Government is grateful to the Japan International Cooperation Agency (JICA) for the ongoing support to the country’s development plans.
Minister of Finance and Treasury, Hon. Harry Kuma uttered this when he made his remarks during the signing ceremony of a loan agreement of about SBD190M between the Solomon Islands Government and the Japan International Cooperation Agency (JICA) in Honiara today.
The concessional loan is purposely to assist the work on the implementation of the Economic Stimulus Package and COVID-19 Preparedness and Response Plan of the country.
Hon. Kuma believe the concessional loan will assist the Government to finance its development objectives which are essential to promote social and economic stabilization and recovery.
He further acknowledged this signing agreement as historical as it is the first of its kind for JICA to offer the Government a loan.
Hon. Kuma also acknowledged JICA’s contribution in the implementation of different types of assistance such as Technical Projects and Grant Aid.
Meanwhile, the Resident Representative of JICA, Mr. Motoyuki Uegaki said,
“The COVID-19 Crisis Response Emergency Support Loan is a 2,500,000,000 (2.5 billion) Japanese Yen (about 190m SBD) loan with interest rate of 0.01% per annum and 15 years repayment period including 4 years grace period.”
The loan is given in the form of co-financing with the COVID-19 Rapid Response Program extended by Asian Development Bank.
The Government is fully committed to the fight against COVID-19 and the accountable implementation of the ESP in the interest of national safety and wellbeing, economic stability and empowerment.