P8.6-B earmarked for transition to Bangsamoro

ABS-CBN News

Posted at Oct 15 2012 07:32 PM | Updated as of Oct 16 2012 07:33 PM

MANILA, Philippines - President Benigno Aquino III said P8.59 billion will be used to fund the transition processes towards the putting up of the Bangsamoro political entity that will replace the Autonomous Region in Muslim Mindanao.

This will be on top of the P12.93 million allocated in the General Appropriations Act, which was meant to fund the Transition Investment Support Plan.

“This year, the government has committed 8.59 billion pesos for the Transition Investment Support Plan, on top of the 12.93 billion pesos already allocated through our budget,” he said.

He said the amount will be used to “map out the detailed steps, detailed commitments, and detailed programs that will lead to the fulfillment of our long-term goals.”

The government and Moro Islamic Liberation Front peace panels signed today the framework agreement, which is the foundation to end the decades-long strife in the south.

“We are committed to enabling our partners to transform themselves to a genuine political party that can help facilitate the region's transition towards a truly peaceful and progressive place. We are committed to giving the region its rightful share, confident that it will redound to the benefit of all citizens, and will not just line the pockets of a very select few,” Aquino said.