President Gloria Macapagal-Arroyo witnesses the signing of loan agreements with the Japan Bank for International Cooperation (JBIC) for power projects in the Philippines and for the establishment of a social fund for the Autonomous Region in Muslim Mindanao (ARMM) in ceremonies held Thursday (December11) at the Imperial Hotel in Tokyo, Japan. The loan agreements were signed by Ambassador Domingo for the Philippines and Governor Kyosuwe Shinozawa for the JBIC. Looking on are Energy Secretary Vicente Perez, Jr. (third from left) and Foreign Affairs Secretary Blas Ople (Fourth from left) and other JBIC officials. (Malacanang Photo)