PH, Spain extend development partnership

Posted at 03/25/14 3:43 PM

Economic Planning Sec. Balisacan signs development cooperation agreement with Spain.

MANILA, Philippines – Philippines and Spain have extended its development partnership for four years with a 50 million euros ($69.2 million) grant allocation from 2014 until 2017, the National Economic and Development Authority (NEDA) said on Tuesday.

The programs and projects of the grant extension are focused on good governance and the rule of law, and disaster risk reduction and management as outlined in the Philippines-Spain Country Partnership Framework (CPF) for Development Cooperation 2014-2017.

The funds for the development cooperation will be coursed through the Philippines’ national government agencies, multilateral cooperation through United Nations agencies, and cooperation through partnership of Spanish and Filipino non-government organizations.

“This agreement is the latest in our long history of close and friendly relations towards more meaningful development cooperation,” said Economic Planning Secretary Arsenio Balisacan.

Balisacan and Spanish Minister of Foreign Affairs and Cooperation José Manuel García-Margallo signed the Statement of the VI Philippines-Spain Joint Commission on Development Cooperation on Monday.

Balisacan noted that the Philippines is the only priority country in Asia under the Master Plan of Spanish Cooperation 2013-2016.