MCC grant a vote of confidence – Noy

MANILA, Philippines - President Aquino considers the Philippines’ eligibility for a new five-year grant from the US as “a vote of confidence” for the country, saying it is one good news he can share with the public.

The Millennium Challenge Corp. (MCC) announced the eligibility of the Philippines for a second compact four years after it awarded the Philippines $434 million to fund three major poverty reduction projects.

Aquino said this was a vote of confidence for the reforms under his matuwid na daan (straight path) policy and would serve as launching pad for other initiatives to fight poverty.

Aquino, who arrived from Busan, South Korea on Friday where he attended the 25th Association of Southeast Asian Nations-Republic of Korea commemorative summit, said he was gladdened by this piece of good news along with other positive developments for the country.

The Philippine embassy in Washington said the Philippines had found itself eligible for a new five-year grant or compact because of its strong efforts at policy reforms, including its successful campaign against corruption. MCC is an independent American aid agency created by the US Congress in 2004.

The US Embassy in Manila, on the other hand, said a top official from the United States Agency for International Development (USAID) will arrive in Manila for a two-day visit beginning tomorrow to meet with Philippine officials to review ongoing programs under the Partnership for Growth (PFG).

The US Embassy said Assistant Administrator and Partnership for Growth Coordinator Eric Postel will visit the Philippines from Dec. 15-16 to reinforce the US government’s commitment to the country’s growth.

Postel will meet with high-level government officials, representatives from the business sector and civil society organizations to review ongoing programs under the PFG – a bilateral agreement with the Philippines to achieve broad-based, inclusive and resilient growth.

The PFG provides a new framework for deepening and strengthening engagement between the US and the Philippines.

The Philippines is one of only four PFG countries globally where the US government has brought its 15 federal agencies in a whole-of-government effort to advance economic development in the country.

Total PFG assistance to date is more than P33.3 billion.  – Pia Lee-Brago