The European Union extended two grants amounting to a combined 60.5 million euros or $39.8 million to assist in peace-building and development efforts in Mindanao with a focus on strengthening the institutions of the newly-formed Bangsamoro autonomous government, creating jobs and improving community-based infrastructure in agricultural communities.
Finance Secretary Carlos Dominguez III signed on June 26 the financing agreement for the Mindanao Peace and Development Programme-RISE Mindanao transmitted by the EU to formalize the 35.5-million-euro grant for the project.
He also signed a separate agreement for the 25-million-euro grant for the Support to Bangsamoro Transition program on July 1.
Dominguez thanked the EU for “its continued support of government efforts to achieve regional
growth and financial inclusion, this time by way of a grant that will help MinDA improve infrastructure and create jobs in rural communities”.