Multi-agency group to identify investments for poor urban areas

MANILA, Philippines — The National Economic and Development Authority (NEDA) and the Housing and Urban Development Coordinating Council (HUDCC) have created a multi-agency group to identify investment projects for poor urban communities.

An agreement for the creation of the Multi-Agency Technical Assistance and Team Advisory Group (MATATAG) was signed recently between the two agencies the economic planning agency said.

“The group is rightly called MATATAG as it will help Filipinos achieve their long-term vision for themselves. Investing in human development will allow people to feel secure knowing that they are able to meet the needs of their families and their children’s future,” said Socioeconomic Planning Secretary and NEDA chief Ernesto Pernia.

The group was formed after the Asian Development Bank selected the Philippines as one of the three developing member countries (including Indonesia and Bangladesh) to receive research and knowledge support under a regional technical assistance (RETA) project titled “Advancing Inclusive and Resilient Urban Development Targeted at the Urban Poor.”

RETA aims to enhance capacities of governments in designing and implementing investment projects that strengthen the resilience of the urban poor.

Financing for the project will come from the Urban Climate Change Resilience Trust Fund under the Urban Financing Partnership Facility being administered by the ADB.

An amount of $5 million will be provided for each of the three countries.

MATATAG will be responsible for coordinating, monitoring, and providing strategic direction on the implementation of the ADB RETA.

“We are grateful for ADB’s solid support in achieving our  mid-term and long-term development goals. This project will greatly help equip the government in achieving inclusive growth through effective and sustainable urban and rural development,” Pernia said.

The group will be chaired by NEDA and co-chaired by HUDCC.