Various programs and initiatives funded and supported by the US in partnership with the Philippines were set on display at the Raffles and Fairmont in Makati as one of the highlights of the seminar on regional media held here at the US Embassy.
Ambassador Thomas said in his message that “four countries where he (Obama) looked at and said we can help at economy here—four countries with the potential because governments here wanted to fight corruption.”
“There are models like the late Jessi Robredo whom we all admired and salute,” he added.
“What we are trying to do with partnership of growth which is almost P40 billions of assistance, more important than the money is President Obama selected the Philippines as one of the four countries to be a partnership-for-growth country,” he said.
The Partnership for Growth (PFG) is a whole-of-government effort emerging from the Presidential Policy Directive on Global Development, which focuses on fostering economic growth in countries committed to good governance.
The US Embassy said that in November 2011, former Secretary Hillary Clinton and Secretary Albert del Rosario signed a Statement of Principles that reflects both governments’ mutual goal to place the Philippines on a path to sustained, more inclusive economic growth, and elevate it to the ranks of high-performing emerging economies. As PFG partners, the two countries agreed to take a comprehensive approach to development that reaches beyond traditional foreign assistance.
Thomas said both countries affirmed a five-year Joint Country Action Plan (JCAP) that prioritizes fostering a more open and competitive business environment; strengthening the rule of law and anti-corruption measures; and improving fiscal performance.
The PFG aligns with Philippine Development Plan reform priorities, according to the embassy.
Since 2011, the Philippine Government has made significant progress in implementing the policy and institutional changes that it agreed to undertake in the JCAP. Along with US government’s support under the PFG, remarkable improvements in GDP growth, competitiveness, tax revenues, and sovereignty debt ratings have been achieved.
“The key challenge is for both countries to ensure that the growth generated is inclusive,” Thomas said. (PIA9)