Monday 16 July
Powered by Ajaxy
Nov 1, 2017 @ 15:11

DOF taps French funding for 100M euro aid


Running local governments will be receiving some help from abroad.

The Philippines has secured a €100 million loan from the Agence Française de Développement (AFD), which will be used for the Local Government Finance and Fiscal Decentralization Reform Program.

The funding, which is roughly $115 million, will be complemented by a $250-million fund from the Asian Development Bank.
The funding will support strategies for inclusive growth, poverty reduction, and “fostering good local governance, transparency and accountability,” the Department of Finance said in a statement.

The fund will be made available by the fourth quarter of this year or the first quarter of 2018, depending on how soon the agreement will be signed.

Tags: , , , , , , , , , , , ,

Related Stories
The Philippines and India have signed an agreement amending their air transport accord to facilitate
The Philippines and Spain inked an agreement that allows international commercial air transport services between
The state-run Social Security System (SSS) on Thursday disclosed that it invested PHP3 billion of
Foreigners remain devoted to pouring money into the Philippines.


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.