MCC Confident in Success of Partnership with the Philippines
From left: Philippine Finance Undersecretary Roberto Tan, MCC CEO
Ambassador John Danilovich, Philippine Finance Secretary Margarito Teves,
Minister Carlos Sorreta of the Philippine Embassy.
11 April 2008, Washington,
DC – In a meeting today between Finance Secretary Margarito B. Teves and
Millennium Challenge Corporation (MCC) Chief Executive Officer
Ambassador John J. Danilovich, the MCC reiterated its confidence in the
success of its partnership with the Philippines in developing and
implementing a Compact Agreement.
On 12 March 2008, the Board of Directors of the MCC decided to classify
the Philippines as a Compact Eligible, qualifying it to receive a
substantial grant from the MCC to aid the country in addressing poverty
through economic growth – the major philosophy behind the MCC.
The meeting was a frank and cordial discussion of the expectations of
the MCC for the Philippines’ Compact development program. For his part,
Secretary Teves assured Ambassador Danilovich of the Philippines’
commitment to the process and would work closely with the MCC Compact
Team in guiding the Philippines in preparing its Compact proposal. The
MCC officials were further assured that President Gloria Macapagal
Arroyo and her Government are firmly committed and dedicated to see the
entire Compact process through.
Secretary Teves confirmed that the political leadership in the
Philippines is solidly supportive of this process and has put this
matter as top priority on the agenda of the Arroyo Administration.
Ambassador Danilovich was very much satisfied with the pronouncements of
Secretary Teves and was confident that the Philippine Compact process
would proceed smoothly. MCC Officials, led by MCC-VP for Compact
Development John Hewko, are expected to visit the Philippines from 10-16
May 2008 to commence the broad-based consultative process. END.