In recent news, the European Union and the World Bank have signed an agreement to formalize the contribution that the regional bloc makes to the Mindanao Trust Fund-Reconstruction and Development Program (MTF-RDP). The EU has made the pledge to offer another €8 million (about P467 million) to the fund with the intention of addressing the economic and social recovery of conflict areas in Mindanao.
As Andris Piebalgs, the EU commissioner for development, said during a signing ceremony in Mandalyuong, “These additional funds are tangible manifestation of EU’s long-term commitment for Mindanao peace process both at the political level and with the people living in the area.”
He added, “I am pleased to see their rapid growth in the past few years. However, it is now important to deepen the economic reforms and make this growth more inclusive. The EU is ready to support the Philippines on its path to reduce poverty, strengthen the rule of law and support Mindanao’s peace progress.”
Mr. Piebalgs explained that the total commitment the EU is making to the Mindanao Trust Fund will exceed €13, more than half of the total amount in the entire trust fund.