FINANCE Secretary Carlos Dominguez III is urging local government units (LGUs) to take advantage of two funding programs administered by the Department of Finance (DOF) to build climate-resilient communities and implement development projects in their respective cities and municipalities through grants and low-cost loans.
Dominguez said these programs are funded through the People’s Survival Fund (PSF), which was set up to implement climate change-adaptation projects in vulnerable communities; and Municipal Development Fund (MDF) administered by the DOF’s Municipal Development Fund Office (MDFO), which provides affordable loans to LGUs to let them improve the delivery of basic services through the construction of water systems, roads and other infrastructure.
In his recent visit to the town of Guiuan in Eastern Samar, Dominguez gave local executives of the province an overview of these two fund sources and told them that he would send personnel from the MDFO and the Bureau of the Treasury (BTr), which alternately chairs the PSF Board with the DOF, to provide them detailed presentations of these programs and accept applications from interested LGUs.
Last March 7, Dominguez led the signing ceremony in Manila of the financing agreements between the PSF Board and four LGUs selected as the initial beneficiaries of the PSF.
These are the local governments of Lanuza, Surigao del Sur; Del Carmen, Surigao del Norte; San Francisco, Camotes Island in Cebu; and Gerona, Tarlac. (PR)