President Aquino cites country’s gains from US’ MCC Compact grant

From the Philippine News Agency (May 24): President Aquino cites country’s gains from US’ MCC Compact grant

President Benigno S. Aquino III said on Tuesday millions of Filipinos are benefitting from the USD434-million grant assistance from the United States Millennium Challenge Corporation (MCC) Compact grant available for projects specifically targeted to reduce poverty in the country.

“Because we have done that, millions of Filipino families are benefiting from ease of access to quality healthcare, a dependable supply of potable water, increased farm production, and more regular attendance to school, among many others,” he said during the National MCC Corporation (MCC) Compact closing event.

President Aquino cited some MCC Compact-funded projects, including USD222.49 million that went to the widening and rehabilitation of Paranas-Taft-Borongan-Guiuan Road in Samar, the construction or rehabilitation of 61 bridges, and slope protection, drainage and road safety projects.

Once the road project is completed in July this year, this will provide access to 13 coastal communities and will cut travel time by an hour between Tacloban City, Leyte and Borongan City, Eastern Samar among its benefits, he said.

The Chief Executive also noted the completion of the Junction Taft-Oras-San Policarpio-Arteche-Lapinig Road, bringing down the travel costs and time.

“Everyone knows: having the basic facility of an improved transport system creates a wealth of possibilities. More efficient trade and transport creates a wealth of possibilities; more trade and transport must take place; tourism potential is heightened, and the delivery of services, facilitated,” he said.

President Aquino said through the compact, USD132 million went to 3,984 subprojects: from community water systems, sanitation projects, and new school buildings, health stations and access roads.

The President added that another MCC Compact project is the Department of Finance’s Revenue Administration Reform Project (RARP), which received USD79.42 million in funding.

President Aquino said the Electronic Tax Information System helps the Bureau of Internal Revenue (BIR) to collect, track and analyze data, making for more efficient, transparent and reliable audits.

The Chief Executive said with these, tax collections breached the Php1-trillion mark for the first time in 2012; while collections from the arrears management program also drastically increased from Php2.3 billion in 2013 to Php8.4 billion in 2015.

“All this has led to increased fiscal space for our administration and even our successors. Apart from the good practices we started, more funds can now be used for projects and programs that will benefit Filipinos,” he added.

The Philippines signed the MCC Compact a few months after President Aquino took his oath of office six years ago. The compact ended on Tuesday.

http://www.pna.gov.ph/index.php?idn=1&sid=&nid=1&rid=888397