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PIA Press Release
2007/08/13

P500 million to fund MDG projects

Baguio City (13 August) -- Interested 4th to 6th class municipalities in the country may avail of the loan for the implementation of the Millennium Development Goals (MDG) projects after the Department of the Interior and Local Government (DILG) and the Department of Finance (DOF) signed last week a memorandum of agreement that would make available P500 million for re-lending.

The MOA was signed by DILG Secretary Ronaldo V. Puno and DOF Secretary Margarito B. Teves in a simple ceremony held at the Pan Pacific Hotel in Manila.

Secretary Puno said the amount shall come from the MDG-Fund which is a lending facility which offers easy financing to eligible LGUs particularly 4th to 6th class municipalities to finance interventions and projects that will directly contribute to the attainment of the MDGs.

MDG or Millennium Development Goals are policies envisioned to address poverty, ensure human development and build prosperity for the greatest number of Filipinos.

The MDG has six priority areas of concern namely, eradication of poverty and hunger, achievement of universal primary education, promotion of gender equality, reduction of child mortality, improvement of women's reproductive health and combat HIV/AIDs, Malaria and other diseases.

The MDG fund is a joint undertaking of the Municipal Development Fund Office (MDFO) of the Department of Finance (DOF) and the DILG to finance construction of school building, hospital, health station, training center; and procurement of equipment and service facilities such as heavy equipment, farm machinery, post-harvest facilities, among others.

Under the MOA, the DOF, through the Millennium Development Fund Office shall establish a MDG-Technical Working Group; administer and maintain the financing requirement of the MDG-Fund to ensure that this is available to address LGU demand for financial assistance, lead in the appraisal of LGU MDG proposals endorsed by the DILG as well as evaluate their viability; oversee and process the fund releases for LGU-MDG projects; conduct periodic evaluation of on-going LGU-MDG projects, among others.

The DILG on the other hand, shall coordinate with the MDFO the status of financing requirement of the MDG Fund; lead in the conduct of advocacy and marketing of the MDG-Fund to eligible LGU beneficiaries; provide technical assistance to LGUs to ensure that these are consistent with requirements, etc.

Interested municipality may submit a project proposal to the DILG that addresses any of the concerns of the MDG and it must have the capability to implement and operate the proposed project. (PIA) [top]

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