RP to present report card to Millennium Challenge this month

WASHINGTON – The Philippines will submit a report card to the Millennium Challenge Corp. later this month on steps it has taken to curb corruption to enable it to avail of up to $500 million in US aid.

Executive Secretary Eduardo Ermita will head a delegation to Washington armed with relevant data that he said will show the Philippines has hurdled the 17 benchmarks – particularly the control of corruption criteria – the MCC has established to determine if a poor, developing country is eligible for aid.

He will be accompanied by Finance Secretary Gary Teves, Dante Canlas, former head of the National Economic and Development Authority, and Ambassador Cesar Bautista.

The MCC is expected to evaluate the report and announce by December whether it will sign a compact agreement with the Philippines opening the floodgate of aid under the US government‘s innovative foreign assistance program.

The Philippines had hoped to sign the compact last year but a failing grade in “control of corruption” delayed its selection.

The MCC board stressed that the Philippines must meet the selection criteria, particularly the Control of Corruption indicator, before it would approve a compact.

Ermita had preliminary talks with MCC officials when he accompanied President Arroyo for talks with President Barack Obama at the White House recently.

He described as “most challenging” the process of acquiring a compact status under MCC’s Millennium Challenge Account.

“The conferment of ‘compact partner’ status is an honor to be cherished not only for the attendant financial benefits but also for the added legitimacy it gives to a country’s campaign for good governance,” he said.

Since its inception in 2004, MCC has approved compacts totaling over $6.3 billion with 18 countries.