MANILA, Philippines (Xinhua) - The European Union is providing the Philippines a 69-million-euro development assistance package that will be spread in three years beginning next year until 2013, a EU envoy said on Thursday. This financial grant is the largest to be given by the EU to the Philippines in recent years.
"The increased funding foreseen for this next programming cycle reaffirms the European Union's commitment to help the Philippines in its fight against poverty and efforts to achieve the Millennium Development Goals," said EU envoy Alistair MacDonald after the signing of the financial package with Philippine National Economic Development Authority (NEDA) Director Cayetano Paderanga.
MacDonald said the funding represents a 50 percent increase in the annual allocation compared to the previous programming period of 2007-2010.
Under the new scheme, the Philippines will avail of a grant of 23-million-euro every year versus the 15.15 million euros it received in the previous funding period of 2007 to 2010.
The EU is one of the Philippines' largest provider of development assistance and aid, particularly in Mindanao. Through the years, it has given assistance to alleviate the plight of tens of thousands of villagers displaced by the fighting between government troops and Muslim rebels in Southern Philippines.
Manila Bulletin
