Malacañang Saturday lauded the start of the implementation of the US$434-million compact grant of the Millennium Challenge Corp. (MCC) that aims to reduce poverty in the country, assuring that the antipoverty aid will directly benefit the public.
The entry into force (EIF) of the compact grant was announced by the Philippine government and Millennium Challenge Account-Philippines last May 25.
“After rapid progress with project preparation and mobilization, EIF was achieved on schedule and marks the start of the 5-year clock for implementation of the compact,” the US embassy said.
Deputy Presidential Spokesperson Abigail Valte said the Philippine government has been in constant preparation for the implementation of the grant, which will fund three projects – the Secondary National Road Development (SNRD) project, particularly in Samar; Kapit-Bisig Laban sa Kahirapan (“Linking Arms to Poverty”)-Comprehensive and Integrated Delivery of Social Services (KALAHI-CIDSS) under the Department of Social Welfare and Development (DSWD); and the Revenue Administration Reform Project (RARP) under the Bureau of Internal Revenue (BIR).
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