Council confirms MOU on initiative with USAid

THE City Council confirmed Tuesday the Memorandum of Understanding (MOU) entered into by and between the City Government of Cagayan de Oro and the United States Agency for International Development (USAid) concerning the Selection of Cagayan de Oro City for the USAid/Philippines Cities Development Initiative.

Last June 29, City Mayor Vicente Emano signed the MOU with United States of America Ambassador Harry K. Thomas, USAid Mission Director Gloria Steele, Department of the Interior and Local Government Undersecretary Austere Panadero, Department of Trade and Industry Undersecretary Zenaida Maglaya and Representative Rufus Rodriguez of the second District of Cagayan de Oro to launch the project in the city.

Cagayan de Oro was selected as one of the three cities in the country to participate in the initiative. The other two participating cities are Batangas City for Luzon and Iloilo City for the Visayas.

Based on the statement of understanding, the parties will cooperate in efforts to execute catalytic, sustainable, transparent and equitable economic reforms to spur rapid, broad-based, and inclusive economic growth.

USAid will assist the city in the infrastructure, small and medium enterprise, education, energy, environment, health, disaster preparedness and mitigating sectors.

The city and the USAid intend to jointly mobilize a wide range of assistance instruments to increase impact, including using assistance to leverage private capital, convening the private sector to improve the investment climate, engaging academia and civil society in the development programs and supporting Cagayan de Oro city’s efforts to create an enabling environment for social and economic growth.

USAid shall fund the project while the City Government will provide counterpart support including logistic support, enactment of complementary legislations, and assistance in training, among others. (PR)