TO aid Mindanao local government units (LGUs) in “accelerating” their projects, Mindanao Development Authority (MinDA) and United Nations Office for Project Services - Philippines (UNOPS) signed a memorandum of understanding (MOU) on February 15 at Abreeza Mall, Davao City.
Oscar Marenco, Country Manager for United Nations Office for Project Services (UNOPS)–Philippines said that this agreement aims to fund existing and upcoming Mindanao projects through a system called project preparation facilities (PPF).
Funds from PPFs will be used in evaluating project sustainability, project management, supervision, and other related factors.
Marenco added that all local government units (LGUs) can benefit from this partnership.
“So the way that this works is on-demand, LGUs need to promote their projects to move forward to access this kind of financing so the LGUs are the ones who would take the initiative,” Marenco said.
“It will also be based on the bankability of these projects and how sound they are in terms of being in line with the development goals in the country,” he added.
UNOPS and MinDA will screen LGU projects, making sure these will be “aligned with specific development goals” such as energy, food security, transportation, and infrastructure.
Marenco added that once they have already established guidelines for qualifying Mindanao projects after the MOU, they expect LGUs to take part and encourage more donors and development partners to support their cause, with a goal to raise US$10 million.
He said their partnership’s multi-sectoral approach would be a big help to address challenges in connection with Mindanao’s projects.
“One gap that we have identified not only in Mindanao... but in developing countries is the lack of bankable projects. Sometimes the lack of funding is not the problem, the problem is not having projects that can be financed,” Marenco said.
Sec. Maria Belen Acosta, chairperson for MinDA, said they will make sure the funding and the projects all over Mindanao will be equitable, to ensure that their organization’s goals are attuned to President Ferdinand Marcos Jr.’s plans for Mindanao.
“We want to help Mindanao develop and we want to make sure that the development is for everyone in Mindanao and not concentrated on a certain locality or sector,” Acosta said.
Acosta also said they will also make sure that their extended help will be “what is needed” for those LGUs involved. ICE