Gov't to pour more funds into Bangsamoro


Posted at Mar 28 2014 11:23 AM | Updated as of Mar 28 2014 07:23 PM

MANILA - Following the signing of the Philippine government-Moro Islamic Liberation Front peace deal, Budget Secretary Butch Abad said future national budgets will pour more money into the right projects in the future Bangsamoro.

Abad said the Aquino administration is set on creating a national budget that is more responsive to the needs of communities in the Autonomous Region in Muslim Mindanao.

"This way, we can ensure that the progress we're making will benefit the Bangsamoro in a sure and sustainable way," he said.

The budget chief said the agreement will pave the way for the region to become a commercial hub, helping the Bangsamoro community get more social and economic services.

"With the assurance of peace and security in the country, we can expect increased confidence from foreign investors keen on doing business in the Philippines... Bringing lasting peace to the Bangsamoro will also catalyze its eventual transformation as a hub for tourism, investment, and vibrant commercial activity," he said.

Abad said the country can expect an increase in foreign investor confidence with the signing of the Bangsamoro peace deal.

"We shall continue to scale up efforts to support programs that will broker sustainable peace and development in the Bangsamoro and Mindanao as a whole.'

Meanwhile, the World Bank vows to double its efforts to support programs that will ensure a sustainable peace in the Bangsamoro region.

After 17 years of negotiations, the Philippine government and the Moro Islamic Liberation Front (MILF) on Thursday signed a peace agreement that seeks to end more than 30 years of the secessionist movement in Mindanao.

The signing happened during a short simple but emotional program at the Kalayaan Hall grounds of Malacanang.

It was marked by speeches from Presidential Adviser on the Peace Process Teresita Deles, MILF chair Al Haj Murad Ebrahim, Malaysian Prime Minister Najib Razak, and President Benigno Aquino.