19 Billion grant from the US Aimed to Stop Corruption and Improve Economy

The grant is one of the highlights in President Aquino's trip to the US. The $434 million is part of the Millennium Challenge Corp. (MCC) financial aid to the country. This will be used in the construction of new roads and bridges particularly in Samar area.

The remaining funds will be spent on new school buildings, water systems,and clinics. Portion of the fund will also go to the computerization of the BIR to fight corruption and increase and become more effective in tax collection.

The Secretary of State Hillary Clinton has this to say about the financial aid given to the country.

“This was a negotiated agreement. This was not a decision just to give the Philippines some money ... This was a negotiation. Because that’s the whole idea behind the MCC. There are certain principles that we believe in, and the Philippines has made a commitment to these principles. We believe that you can unleash the human potential in a country like the Philippines by tearing down the barriers to economic growth and fighting corruption, which is like a cancer in the economy and society,” she said.

We just hope that this money will go the the intended beneficiaries. And no more kickbacks from the implementing agencies or percentages given to the directors, governors and mayors.