(Eagle News) – Finance Secretary Carlos Dominguez III has urged local government units (LGUs) to tap funds to build climate-resilient communities and implement development projects.
In a statement on Monday, March 19, the finance chief advised LGUs to take advantage of the two funding programs administered by the Department of Finance’s Municipal Development Fund Office (MDFO)—the People’s Survival Fund (PSF) and the Municipal Development Fund (MDF).
According to Dominguez, LGUs can avail of the PSF when implementing climate change-adaptation projects in vulnerable communities.
Dominguez said the PSF has a programmed annual fund of at least P1 billion in the National Treasury.
“..So these are protection of shorelines, in case there are higher tides due to the adverse effects of climate change. We can also fund solar electricity and water projects and projects sort for building shelters for emergencies,” Dominguez said.
Local governments may also apply for “long-term and low-cost loans” under MDF to improve the delivery of basic services through the construction of water systems, roads and other infrastructure projects, Dominguez said.
The MDF is a special revolving fund that was established for relending to LGUs, enabling them to tap funds from local and international sources.
The finance secretary said he would send to LGUs personnel from the MDFO and the Bureau of the Treasury (BTr), which alternately chairs the PSF Board with the DOF, to provide them detailed presentations of these programs and accept applications.
Dominguez, along with US Ambassador to the Philippines Sung Kim and Eastern Samar Rep. Ben Evardone, were in Guiuan last week, to visit the Secondary National Roads Development Project (SNRDP) funded by a United States grant through the Millennium Challenge Corp (MCC).
The project was completed in September 2016.