Metro Manila (CNN Philippines, December 3) — The Philippine government is in talks with Qatar for funding aid in infrastructure and the development of the Bangsamoro region, the Department of Finance said.
In a statement, Finance Secretary Carlos Dominguez III said he met with representatives of the Qatar Fund for Development (QFFD) for possible official development assistance (ODA), with a focus on the newly-created Bangsamoro Autonomous Region in Muslim Mindanao.
“We are encouraging more investments in this region to improve the lives of its people in underserved island communities,” Dominguez told fund officials.
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A Qatari delegation visited Dominguez in late 2019, saying that the foreign government can assist efforts towards peace building, the peace process, education, rural infrastructure development, disaster risk reduction and management, and the energy sector.
In particular, the Qatar fund said it will offer help to earthquake victims in Cotabato.
The Middle Eastern nation is a huge player in the crude oil industry.
QFFD is a state agency that supports Arab nations and developing economies through loans, grants, and technical assistance.
QFFD senior advisor Samer Frangieh said they can also extend help for education and health care, expanding livelihood in fisheries, and initiatives to bring former rebels to the economic mainstream. The agency quoted Bangsamoro region Minister for the Interior Government Naguib Sinarimbo as saying that the autonomous government is planning to transform rebel camps into “economic-producing areas.”
The QFFD officials added that they can extend help in creating an Islamic banking industry here, in light of a new law that allows new players to practice lending compliant with Shari’ah law.
Japan, China, and South Korea are among the major funding sources of the Philippines through ODA, mainly for flagship infrastructure projects.
READ: DOF eyeing Japanese loan to develop Subic Bay
