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The Department of Finance (DOF) and the Agence Française de Développement (AFD) have signed a loan for disaster risk reduction at the local level, as well as disaster preparedness and response. In a statement on Monday, Dec. 20, the DOF said that the €250 million policy-based loan, approximately
France has committed to lend the Philippines the equivalent of P14 billion to support and build up disaster risk reduction efforts at the local level, the Department of Finance said.
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