MANILA, Philippines — The European Union and the Philippine government, through the Department of Finance, officially exchanged financing agreements providing for grants totaling 60.5 million euros (around P3.4 billion) for two peace and sustainable development projects in Mindanao. “The European Union has been a long and staunch development partner of the Philippines. Under the two agreements, the EU will provide 35.5 million euro (P1.98 billion) for the “Rise Mindanao” project and another 25 million euro (P1.4 billion) for the Support to Bangsamoro Transition (Subatra) program. “These two agreements reaffirm the commitment of the European Union in contributing to peace and development in Southern Philippines,” Wiersing also said. “The EU has been a major actor in Mindanao in promoting peace, human security, and development over more than two decades,” he added.

Source: Philippine Daily Inquirer July 17, 2020 05:15 UTC