MANILA - The Philippines and the European Union have signed 2 grants worth 60.5 million euros (P3.38 billion) for peace efforts and infrastructure projects in Mindanao, the Department of Finance said Sunday.
The agreement for the Mindanao Peace and Development Program-RISE worth 35.5 million euros (P1.98 billion) was signed on June 26, while the Support to Bangsamoro Transition (SUBATRA) program worth 25 million euros (P1.3 billion) was signed on July 1, the DOF said in a statement.
"This EU assistance will certainly help the Duterte administration achieve its goal of just and lasting peace and development in southern Philippines, and in supporting genuine autonomy in the Bangsamoro region," Finance Secretary Carlos Dominguez III said.
RISE Mindanao aims to increase economic opportunities and "contribute to a peaceful, cohesive, secure and inclusively developed" region.
The SUBATRA program, meantime, targets to establish "an enabling democratic governance environment" for the Bangsamoro region.
The EU is a major contributor to the Mindanao Trust Fund for Reconstruction and Development, the DOF said.