Friday, May 30, 2008
Saudi loans US$80M for projects in Mindanao (10:23 a.m.)
PRESIDENT Gloria Macapagal-Arroyo announced Thursday that the Kingdom of Saudi Arabia (KSA) has pledged a US$80 million loan for government priority projects.
The projects are aimed for the Autonomous Region in Muslim Mindanao (ARMM) including Tawi-tawi, the poorest province in the country.
This developed as the President enlisted the help of presidential daughter and World Wildlife Fund (WWF) policy officer for the Coral Triangle program Lourdes Evangeline "Luli" Arroyo in uplifting the lives of the Tawi-tawi residents.
Tawi-Tawi is situated right in the middle of the Coral Triangle.
The younger Arroyo, whom the President described as an "environmentalist" was with her when she unveiled the Tawi-Tawi Modified Mariculture Development Project which she said would benefit from the new loan from KSA.
The US$80 million would be in addition to the US$20-million loan that the Saudi government extended earlier to the ARMM. (JMR/Sunnex) |
