MANILA, Philippines - A former Malacañang economic adviser said yesterday accessing the P18-billion Millenium Challenge Account (MCA) approved by the United States would give the Philippines a much-needed economic boost when the next administration takes over.
In a forum, former economic adviser and Albay Gov. Joey Salceda said unlike other official development assistance, the MCA is not a debt but an outright grant – non-repayable net resource inflow for Philippine development.
The MCA, funded by the United States, was one of three subjects newly installed US Ambassador to the Philippines Howard Thomas discussed with president – apparent Benigno “Noynoy” Aquino III in their recent informal meeting. The two others were increased trade facilitation and peace in Mindanao.
The MCA includes specific programs designed to help developing countries pursue their Millennium Development Goals (MDGs) formulated during the September 2000 United Nations Millennium Summit, the largest and historic gathering of world leaders that adopted the Millennium Declaration.
The MDGs are the world’s time-bound programs with quantified targets designed to address extreme poverty in its many dimensions — hunger, disease, inadequate housing, poor education, gender inequality, security risks and environmental degradation, up to 2015.
Salceda noted that since March 2008 when Manila was qualified as eligible for the MCA, $389 million or P18 billion has already been approved for the Philippines for implementation up to 2013.
“Sealing the MCA Compact Project for the Philippines is a quick win for Noynoy. It would bolster the fundamental argument for his leadership ascendancy that the international goodwill has embedded into the iconic Aquino name for clean governance. It would translate into palpable gains for the economy and the welfare of the poor,” Salceda said.
The P18-billion MCA approved package covers three items – the Kalahi-CIDSS program of the Department of Social Welfare and Development, $120-million; the $214-million Samar National Secondary Roads Development Program (SRNDP); and the $54-million Revenue Administration Reform Program (RARP).