Vol. XXII, No. 136 [ BusinessWorld Onine ]
Wednesday, February 11, 2009 | MANILA, PHILIPPINES
THE PHILIPPINES stands to benefit from a $73-million grant from the United States aimed at supporting environment and energy programs over the next six years.
Representatives of both governments yesterday signed an "affirmation of commitment" for the bilateral assistance agreement in Malacañan Palace.
Under the agreement, the United States Agency for International Development will support efforts to conserve biodiversity and sustainably manage natural resources; promote clean and renewable energy; mitigate and adapt to the effects of climate change; and improve access to water and sanitation services.
The agreement will be implemented in partnership with the National Economic and Development Authority (NEDA); the Energy Regulatory Commission; as well as the Agriculture, Energy, Finance, and Environment and Natural Resources departments.
Socioeconomic Planning Secretary Ralph G. Recto said the funds would be used to support projects in local governments, particularly the poorest provinces in Mindanao. "Among the new activities that will be rolled out in 2009, we anticipate a new clean/renewable energy contract, a new rural electrification grant, and two new biodiversity conservation grants," Mr. Recto told reporters.
Specifically, the grant would be used to finance projects for solid waste management; watershed protection; rainwater conservation; water recycling; atmospheric activities; fossil fuels; fisheries; agriculture; education; foreign affairs; renewable energy; conservation, protection and restoration economics; and outdoor and rooftop structures. — BSSD
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