US grants P10.5B aid to reinvigorate PH economy

The US Agency for International Development (USAID) has inked a P10.5-billion five-year agreement to help spur Philippine economic recovery.

“The agreement will expand our support to help the Philippines achieve long-term, private sector-led economic growth and strengthen economic governance. These programs will create jobs and help ensure more inclusive, broad-based economic development,” USAID mission Director Lawrence Hardy II said in a statement.

The five-year bilateral deal is expected to “accelerate inclusive, broad-based economic growth through policies” that will attract more trade and investments to the country.

This grant is one of four new USAID deals with the Philippines.

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