US unlocks $434M for Aquino gov't

[darkwing]

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US unlocks $434M for Aquino gov't | ABS-CBN News | Latest Philippine Headlines, Breaking News, Video, Analysis, Features

WASHINTON DC - The United States has given the young Aquino administration what the previous administration of President Gloria Macapagal Arroyo had coveted for nearly 2 years and never got – a signal of trust and confidence – when it agreed on Friday to unlock $434 million in poverty- and corruption-fighting grants for the Philippines.

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

The Philippines became eligible for a Compact agreement as early as 2009, but the Arroyo administration continually flunked the corruption test, including the last one released for Fiscal 2010 (the US fiscal year starts in October).

On a median of zero, the Philippines scored a -0.20 or about 26% in the Control of Corruption parameter.

Former President Arroyo, according to Washington DC insiders, also sought the MCC Compact for political reasons, because it would provide a “seal of approval” for her administration. But as she became embroiled in one scandal after another, some involving her family, the MCC appeared to tighten the requirements for her to get the Compact agreement.

This time around, the MCC apparently didn’t want to wait for its regularly scheduled 4th quarter board meeting to act on the Philippines’ request – something sources here say sends a clear signal to the 2-month-old administration of President Benigno “Noynoy” Aquino III.

[Tirong-say]

Wow, trusted gyud diay ang government ni President Noy karon..........

[reptoid]

This is great news! At the same time it validates suspicions that all was not well with the previous administration.

[chinwin]

noy noy the best!!!!

[jrconde]

i think trusted gamay ang administration karn. dili lng jud ta mag kompyansa.

[peewee_toot]

good news! hope dili sayangon ni Pnoy.

[haroldking]

thats a big money outthere! i hope nga dili sila matintal ana kay sayang kaayo ang trust na ila gihatag diri nato! Go! Pnoy!

[samsungster]

dako ug trust ang u.s. ni pnoy.

[KizoneC]

thats a big money outthere! i hope nga dili sila matintal ana kay sayang kaayo ang trust na ila gihatag diri nato! Go! Pnoy!

mao .. if ever gani matintal aw labaw pang ate glo. aw will see lang nya kung unsa mahitabo ani

[cebulifer]

Lets see what PNoy will do with the money. Supposedly for poverty and anti-corruption programs. Lets see the scatter! Naglaway na ang mga kamaganak, inc.!!!