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PNoy to Receive $434M Grants for poverty- and corruption-fighting

Millennium Challenge Corporation's (MCC) board had officially granted the Aquino administration with a $434 million grant in order to help his government fight corruption and poverty in the Philippines. The said MCC grant was previously locked because former President Arroyo's government had been viewed as corruption haven.

"Congratulations to the people and Government of the Philippines for tackling difficult challenges to create tangible opportunities for growth and prosperity," says Daniel Yohannes, Millennium Challenge Corporation (MCC).

The MCC grans will include investments of $54 million in computerizing and improving the tax collection activities of the Bureau of Internal Revenue; about $120 million will be for to livelihood- and quality of life enhancing projects in the country’s poorest barangays; and $214 million will be spent for the construction and repair of 220 kilometers of roads that cut across the most marginalized communities of Samar Island and link it with the rest of the archipelago.

President Noynoy Aquino is expected to sign the agreement with MCC when he visits the United States next month.

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