Philippines gets $100-M loan from South Korea for COVID-19 response

ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="https://sa.kapamilya.com/absnews/abscbnnews/media/2018/trending/06/04/south-korea-doubles-assistance.jpg"/><figcaption>Philippine President Rodrigo Duterte and South Korean President Moon Jae-in shake hands following the bilateral meeting at the Blue House in Seoul on June 4, 2018. <em>Photo by Toto Lozano, Presidential Photo</em></figcaption></figure></div><p>MANILA - The South Korean government has extended a $100-million loan to the Philippines for its coronavirus emergency response efforts -- the first and largest COVID19-related bilateral assistance offered by the Republic of Korea to a partner country, the Korea Eximbank said in a statement. </p><p>The loan, which is part of the COVID-19 Emergency Response Program Loan of the Economic Development Cooperation Fund (EDCF), was finalized by the Export-Import Bank of Korea (Korea Eximbank) and the PH&#x27;s Department of Finance.</p><p>“Through this program loan, which is a type of budgetary support for policy establishment and implementation of COVID-19 response strategies, the Government of Korea expresses its solidarity with the Philippines and the international community in the ongoing global battle against coronavirus,” the Korea Eximbank said.</p><p>“It is also hoped that this will further strengthen relations between Korea and the Philippines in the field of public health and safety in addition to diverse areas of cooperation over the past 70 years,” it added.</p><p>This is the third time it offered assistance to the Philippines under the EDCF Framework Arrangement, which aims to provide a total of $1 billion in assistance to the Philippines for infrastructure, economic development projects, and emergency relief for a pandemic like COVID-19.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/06/04/18/south-korea-doubles-assistance-to-ph-to-1-billion-dominguez-says">South Korea doubles assistance to PH to $1 billion, Dominguez says</a></li></ul><p>Other than the South Korean government, the Philippines also received a $1.5-billion assistance from the Asian Development Bank for COVID-19 response, among others.</p><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/Ma0HxOWhJSg?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>The South Korean government has extended a $100-million loan to the Philippines for its coronavirus emergency response efforts -- the first and largest COVID19-related bilateral assistance offered by the Republic of Korea to a partner country, the Korea Eximbank said in a statement. </p>

The South Korean government has extended a $100-million loan to the Philippines for its coronavirus emergency response efforts -- the first and largest COVID19-related bilateral assistance offered by the Republic of Korea to a partner country, the Korea Eximbank said in a statement.

Philippines gets $100-M loan from South Korea for COVID-19 response | ABS-CBN

Halalan 2025

Entertainment

News

Metro.Style

Lifestyle

Sports

More

Traffic

Horoscope

Business

Philippines gets $100-M loan from South Korea for COVID-19 response

Philippines gets $100-M loan from South Korea for COVID-19 response

ABS-CBN News

Published Nov 02, 2020 05:11 PM PHT

Read More:

South Korea

Philippines

Korea Eximbank

Department of Finance

DOF

ADB

Asian Development Bank

COVID-19 emergency response

ANC

ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.

Corporate

Investors

Governance

International Distribution

Corporate

Governance

Investors

International Distribution

NPC Seal of Registration

Privacy Policy

AI Policy

Terms of Service

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.