THE Department of Finance (DoF) is seeking presidential authority to negotiate a proposed $20-million grant from the United Arab Emirates (UAE) to help reduce waste entering the Pasig River system.
In a statement on Thursday, the DoF said it has endorsed the proposed assistance, valued at about P1.2 billion, to the Office of the President to support the Pasig River Restoration Project.
“We thank the government of the United Arab Emirates for extending its hand in partnership with us to rehabilitate one of our country’s vital waterways,” Finance Secretary Frederick D. Go said.
“The proposed assistance would strengthen waste management efforts and help improve the quality of life of our people,” he added.
Unlike loans, grants do not require repayment, the DoF said.
The project seeks to reduce plastic and organic waste entering the Pasig River system by 25% over five years.
It would cover waste recovery and interception; household waste segregation and collection; capacity-building and support for informal waste collectors; improved waste processing and recovery; and stronger enforcement against illegal dumping.
“The DoF is seeking the necessary authority to negotiate the proposed agreement, including its terms and conditions,” the DoF said.
“Once authorized, the department will facilitate negotiations with the UAE government in coordination with concerned government agencies,” it added. — Justine Irish D. Tabile