By CHINO S. LEYCO
The public development institution of the State of Qatar may help in funding the infrastructure and development of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), the Department of Finance (DOF) said yesterday.
In a statement, Finance Secretary Carlos G. Dominguez III said that officials of the Qatar Fund for Development (QFFD) have expressed openness in exploring opportunities for development cooperation with the Bangsamoro region.
In a recent meeting with a visiting delegation from QFFD, Dominguez said areas that would benefit from Qatar’s support include the government’s capacity-building efforts for BARMM.
QFFD may also help in peace building in the region, the normalization of the peace process, Islamic banking, education, fisheries development, rural infrastructure development, health care, disaster risk reduction and management, and the energy sector.
According to Dominguez, these initiatives will ensure BARMM residents that the creation of the new Bangsamoro government would bring tangible benefits and “real change in their lives.”
Dominguez told QFFD officials led by its senior advisor, Samer Frangieh that assistance to the new Bangsamoro government is crucial in ensuring that its transition to a regional government is successful.
The Philippines is also looking forward to further cooperation in the field of sustainable development, and exploring possible areas of investment with the Qatari government, Dominguez said.
He also pointed out the Duterte administration has devoted its efforts to prepare the economy for rapid inclusive growth by, among others, maintaining the highest standards of fiscal discipline, reforming the country’s tax system, and reducing its debt service load.