GERMANY COMMITS P1.47 BILLION FOR RP PROJECTS
Manila, Dec. 4, 1997 - The German government is committed to provide DM 70 million or P1.47 billion for various Philippine projects over the next few years.
GERMANY's commitment was relayed to Socio-Economic Planning Secretary Cielito Habito by Dante Canlas, deputy director-general of the National Economic Development Authority. Canlas headed the Philippine panel in the 1997 RP-Germany negotiations held in Tacloban City. The German panel was headed by Lothar Zimmer, director for Southeast Asia and the Pacific of the Ministry for Economic Cooperation and Development.
The funds will be made available in the form of grants and loans. The Philippine and German panels agreed that poverty alleviation would be an overall objective of the development program.
Reported by: Sol Jose Vanzi
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