ADB lends 300 million dollars to the Philippines
The Asian Development Bank will provide a 300 million-dollar loan to the Philippines to help local government units raise revenue to support basic services, the Manila-based bank said Tuesday.
The loan will be granted in the first stage of the programme which would also include a further 800 million-dollar grant from a Japanese-funded facility managed by the bank, an ADB statement said.
"It contributes to increased efficiency and effectiveness in the delivery of basic public services by increasing resources and funding options for local government units," said ADB public sector management specialist Tariq Niazi.
A 1991 law gave the provincial, municipal and city governments the main responsibility of delivering basic health, education and infrastructure services, functions previously handled by the national government.
However, local government has trouble fulfilling the mandate effectively due to funding constraints, incompetence and corruption, the bank said.
"Financial accountability, transparency and capacity also pose challenges to local governments. Improvements are needed in service delivery, governance and performance measurement," the statement added.
Loan terms were not disclosed.
2 comments:
oh my God!
they are that shameless aren't they?
what's the whole point of democracy? to rob from the common people until they have no effing life in them at all?
the 300M dollar loan will be the burden of the next after next after next after next after next generation.. i certainly have lost count.
this thing called politics is a FARCE!
haha indeed... the little (literally) president doesn't mind getting those loans because she knows that she'll not carry the burden of paying them but the future generation will.
It's funny that Philippines is a small country but we have the biggest debts.
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