TOKYO— Japan will give the Philippines hundreds of billions worth of government aid and private sector investments to support the country’s goal of becoming an upper-middle income economy in the next few years, Japan Prime Minister Fumio Kishida said on Thursday. “To support the Economic Development Plan of the Philippines to become an upper-middle-income country and conveyed that by March 2024, public-private assistance of ¥600 billion will be provided,” Kishida said in his statement during the Documents Exchange Ceremony at the Prime Minister’s Office here.
TOKYO— Japan will give the Philippines 600 billion yen in government aid and private sector investments to support the country’s drive to become an upper-middle income economy in 2024, Japan Prime Minister Fumio Kishida has said.
"To support the Economic Development Plan of the Philippines to become an upper-middle-income country and conveyed that by March 2024, public-private assistance of 600 billion yen will be provided," Kishida said.Under the World Bank’s updated standards, an upper middle-income economy or country has a gross national income per capita of between $4,046 and $12,535.
The Philippines and Japan signed seven agreements on mutual cooperation in the areas of humanitarian assistance, disaster relief, infrastructure, agriculture, and digital cooperation.
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