Saturday, January 21, 2006
AusAid grants A$30M to boost RP economy
A NEW facility, dubbed as Philippines-Australia Partnership on Economic Governance Reforms (PEGR), has been granted assistance from AusAid, amounting to A$30 million from 2005 up to 2009 to support government implementing agencies in achieving the objectives of Philippine agenda.
PEGR aims to promote good economic governance in the Philippines to enhance economic growth and ensure more effective delivery of services to the poor.
A Facility Board that comprise representatives from National Economic and Development Authority, Department of Budget and Management, AusAid and a partner contractor Sagrid International will oversee the conduct of PEGR and ensure its operations remain appropriate to Philippine needs and development priorities.
PEGR aims to further strengthen the cooperation in the area of economic reforms between the Australian and Philippine government partnership.
It is a major component of the Philippines-Australia Development Cooperation program managed by AusAID, aimed at helping the Philippine government reduce poverty and promote sustainable and equitable development.
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