MANILA, Philippines -The Japanese government has committed P215 million in overseas development assistance (ODA) for the "next-generation vehicle package."
Japanese Ambassador Toshinao Urabe and Foreign Affairs Secretary Albert F. Del Rosario exchanged notes for the "Non-Project Grant Aid (Next-Generation Vehicle Package)" amounting to 500 million yen (around P215 million) on March 12.
The next-generation vehicle package aims to contribute to the reduction of environmental pollution in the Philippines caused by greenhouse gas emissions.
"Specifically, the project is intended to provide eco-friendly products that will promote the development of the Philippines through making use of Japanese technology such as hybrid vehicle (HV), plug-in hybrid electric vehicle (PHEV), electric vehicle (EV) and clean diesel vehicle (CD)," the Japanese embassy said in a statement.
Projects under the Non-Project Grant Aid seek to assist developing countries in responding to different economic and social needs. The NPGA offers foreign currency funding for importation of goods such as industrial materials that will address a specific concern of a developing country.