^

Business

Mindanao Trust Fund gets boost

The Philippine Star

MANILA, Philippines — The World bank-managed Mindanao Trust Fund (MTF) received fresh funding from two foreign sources which would be used to build new socioeconomic infrastructure and improve literacy in conflict-affected areas.

Established in 2006, the MTF consolidates international development assistance for the socioeconomic recovery of conflict-affected communities in Mindanao supports the normalization process with the Moro Islamic Liberation Front. It receives support from various development partners including Australia, Canada, European Union, Sweden, New Zealand, and the US.

MTF has a steering committee that oversees the implementation and evaluation of the program.

It is chaired by Office of the Presidential Adviser on the Peace process, Bangsamoro Development Agency (BDA), and the World Bank, which also serves as the trust fund secretariat.

In a statement, the bank said the fund recently received a $3.2 million grant from  humanitarian organization Community and Family Services International (CFSI) through a new program partnership agreement with the BDA.

The Spanish Agency for International Development Cooperation also provided complementary funding amounting to 1 million euros to support similar activities.

World Bank said that from 2006 to 2017, development partners to the fund have provided P1.4 billion $28.9 million) to the program.

During this period, the MTF-Reconstruction and Development Project delivered  573 projects that improved infrastructure, strengthen livelihoods and functional literacy in 315 conflict-affected communities across 75 municipalities.

Nearly 650,000 people now benefit from clean water, better roads, and more post-harvest facilities and access to farming and fishing equipment, the WB said.

MINDANAO TRUST FUND

WORLD BANK

Philstar
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

FORGOT PASSWORD?
SIGN IN
or sign in with