MANILA, Philippines (Xinhua) - The European Union (EU) will double its development assistance to the Philippines in the next six years, a EU senior official said today.
EU Ambassasdor Guy Ledoux cited the "progressive improvement of governance" under the administration of President Benigno S. Aquino III for the significant increase in aid.
At the launch of its 2015 Joint EU-Philippines Development Report in Makati City on Tuesday, it was announced that the European bloc's aid has been increased from P7 billion ($156.03 million) to P17 billion ($378.92 million).
EU's assistance to the Philippines covering 2014 to 2020 supports two key areas: rule of law, and inclusive growth through sustainable energy and job creation.
In the past, EU aid has funded programs of poverty reduction, rule of law, energy security, public health and peace-building in Mindanao.
The new strategy, an EU statement said, will address governance and climate change, but a "proportional amount" will be given to Mindanao as part of its contribution to the peace process.
"Emphasis will be on achieving concrete results and maximizing the impact of the EU funding provided to the benefit of Filipinos across the country," Ledoux said.
The decision to more than double EU Development assistance to the Philippines came weeks after the granting by the EU of Generalized Scheme of Preference plus or GSP+ status to the Philippines, which will pave the way for the tariff-free entry of the country's major exports to Europe.