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Gov’t lines up $935.4-M projects for Millennium Challenge funds

Vol. XXII, No. 124 [ BusinessWorld Online ]
Monday, January 26, 2009 | MANILA, PHILIPPINES

THE GOVERNMENT is set to propose six projects for $935.4-million funding under the US Millennium Challenge Account.

A report released late last week by the National Economic and Development Authority (NEDA), dated last January 8, identified the six projects as: the Finance department’s Enhancing Fiscal Governance through Procedural Reforms and Technological Applications ($299 million); the Department of Social Welfare and Development’s (DSWD) Pantawid Pamilyang Pilipino Program, a conditional cash transfer program aimed at raising school enrollment among poor children nationwide ($227 million); the Department of Public Works and Highways’ Secondary National Roads Program ($186 million); DSWD’s Kapit-bisig Laban sa Kahirapan-Comprehensive and Integrated Delivery of Social Services ($100 million); the Agriculture department’s Sustainable Upland Watershed Management and Productivity Enhancement through Small Water Impounding Project (41.7 million); and the Comprehensive Coastal and Fisheries Resources Protection Using Strategic Surveillance and Geospatial Mapping ($81.7 million).

"The six projects have been favorably assessed by the MCC [Millennium Challenge Corp.] transaction team," the document read, referring to the government’s point group in dealing with MCC.

NEDA Deputy Director-General Rolando G. Tungpalan said in a phone interview yesterday that the list has been approved by NEDA’s Investment Coordination Committee.

The US government formed the Millennium Challenge Corp. in 2004 to administer the MCA. Its purpose is to provide grants to eligible countries like the Philippines to help reduce poverty through sustainable growth. — B. V. Buco, Jr.

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