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EU commits 150 million euros for Philippines development projects grant

Mary Grace Padin - The Philippine Star
This content was originally published by The Philippine Star following its editorial guidelines. Philstar.com hosts its content but has no editorial control over it.
EU commits 150 million euros for Philippines development projects grant
According to the DOF, Thomas Wiersing, charge d’affaires of the EU delegation to the Philippines, made the commitment during a recent virtual meeting with Finance Secretary Carlos Dominguez.
STAR / File

MANILA, Philippines — The European Union has committed to extend 150 million euros (approximately P8.51 billion) in grants to the Philippines, the bulk of which will be used to support development projects in Mindanao, the Department of Finance (DOF) said yesterday.

According to the DOF, Thomas Wiersing, charge d’affaires of the EU delegation to the Philippines, made the commitment during a recent virtual meeting with Finance Secretary Carlos Dominguez.

The DOF said about two-thirds of the 150 million euro grant will be used to finance programs that aim to boost agricultural productivity and provide electricity in far-flung communities in Mindanao.

The finance department said Wiersing also reiterated the EU’s intention to realign portions of its grants to COVID-19 response efforts in Mindanao.

Earlier, Wiersing said an estimated 15 million euros (about P844 million) of EU’s financing support could be reoriented to address the impact of the health crisis in the country.

The DOF said the EU will also continue its assistance to institute reforms in the Philippines’ justice system through the second phase of the Justice Sector Reform Programme: Governance in Justice.

In response, Dominguez welcomed the regional bloc’s continuing efforts to support development projects in Mindanao.

He also welcomed the EU’s plan to provide grants for the electrification of Mindanao’s small island communities, and proposed the use of clean energy sources for the project.

The finance chief also sought the EU’s expertise and assistance in improving the competitiveness of the Philippines’ manufacturing sector.

Dominguez said the EU, with its large manufacturing base, could share its technical expertise or extend assistance in providing the necessary equipment to help integrate medium-sized enterprises in the supply chain of big companies.

He at the same time emphasized the importance of strengthening and incentivizing the manufacturing sector to help the Philippines recover from the ill-effects of the coronavirus pandemic.

In addition, Dominguez also called for the EU’s support in the provision of individual land titles to agrarian reform beneficiaries, especially in Mindanao.

As of August 2020, the DOF said the EU has provided 85 million euros in grants to the Duterte administration to finance its peace and development efforts in the region.

These include the financing assistance for the Mindanao Peace and Development Program-Rise Mindanao, MINPAD - Peace and Development in the Bangsamoro Autonomous Region in Muslim Mindanao, and Support to Bangsamoro Transition Program.

DEPARTMENT OF FINANCE

EUROPEAN UNION

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