Wednesday, October 08, 2008 USAid projects not affected by US econ recession: Medco By Joy Romares-Sevilla
PROGRAMS and projects for Mindanao funded by the United States Assistance for International Development (USAid) will not be affected despite the recession in the United States.
Undersecretary Virgilio Leyretana, chair of the Mindanao Economic Development Council (Medco), told reporters recently that the programs and projects for Mindanao are well funded by the USAid.
"There's no way to worry that the implementation of the programs will be cut, all we have to do is to pursue with the projects," Leyretana said.
In fact, he said he has signed an agreement last year, pronouncing that the USAid will extend assistance of US$190 million for Mindanao programs and projects.
"The US$190 million will be spread for five years," Leyretana added.
Meanwhile, Leyretana asserted that Mindanao's services sector has begun to grow. He said the economy of Mindanao is beginning to shift from agribusiness-based to services-based.
"There are a lot of BPO expansions today, investors are eyeing Davao as a good destination for BPO operations," he said.
Leyretana, on the other hand, said Mindanao cannot always be dependent on the government.
"We should let the private sector participate in nation building," he said.
Medco recently partnered with the Mindanao Business Council (MinBC) to jumpstart the production and marketing for the Talk Mindanao program, the only program that tackles peace and development updates and advocacies on Mindanao.
"We will have a close coordination with the government and the MinBC as well to accelerate the socio-economic activities in Mindanao," he added.
