MCC eyes transpo, power as focus on second deal

From the Philippine News Agency (May 27): MCC eyes transpo, power as focus on second deal
 

The Millennium Challenge Corporation (MCC) is looking at transportation and energy as priority areas in the development of second compact or agreement to further poverty-reducing support in the Philippines.

MCC Chief Executive Officer Dana Hyde said it is too early to pronounce, but based on initial analysis, the two sectors need more support from the US government to improve the living condition of poor families.

“We’re taking a look at cost of transportation, cost of energy, and certainly the world economy in the Philippines and how to create value and opportunity,” Hyde told reporters in a press briefing at the Tacloban Airport late Thursday afternoon.

Hyde said that an economic team from the US is now working with their counterparts in the country to analyze economic indicators and identify priority sectors.

“We’re making a good progress on compact 2, but we are still on early stages of analysis,” the official said.

In December 2014, the MCC has selected the Philippines as eligible to develop a second compact or agreement- with MCC to continue its fight against poverty.

“This is the first time ever that a country still working on compact 1, which is doing so well, that the board decided to give green light to go ahead and begin developing compact 2,” said MCC Board member and President of the International Republican Institute Mark Green.

“I think many of us in the board thought it was a good idea, but we had a doubt because that’s the first time ever. But what everything I see tells that it was a wise choice,” Green added.

The Philippines compact project was signed on Sept. 23, 2010 by President Benigno S. Aquino III and then US Secretary of State and Millennium Challenge Corporation (MCC) Chair Hillary Clinton.

MCC’s compact with the Philippines has ended on May, 26, 2016. It implemented poverty-reduction projects, focusing on three areas - improvement of tax revenue collection and administration, rehabilitation of secondary road network in Samar provinces, and funded about 4,000 small-scale community development projects in poor rural communities.

Hyde is optimistic that partnership will be sustained even with the change of administration in the country.

“People of the United States and the Philippines have strong and deep partnership. We have reasons to believe that this will continue. We’re very much looking forward to working with the new administration as we shape the second investment,” she added.

http://www.pna.gov.ph/index.php?idn=2&sid=&nid=2&rid=889266